E3: Modern Cold War, pandemic politicization & more with David Sacks & David Friedberg

00:00:00.000 | Hey, everybody. Welcome to the All In Podcast with Jason Calacanis and Chamath Palihapitiya.

00:00:04.280 | We record this podcast, well, on a really unique schedule, Chamath. What's our schedule right now,

00:00:09.680 | whenever we feel like it? Basically, it is whenever our significant others get so sick of us

00:00:15.800 | that they kick us off and say, don't come back. Yeah, we get thrown to the pool house. We decide

00:00:20.360 | to pop up the podcast. You're in Atherton. I'm in the city in San Francisco. Thank you,

00:00:26.380 | Duke of Discretion. Is there anything else you'd like to do? Tell them my address, my gate code.

00:00:31.220 | Gate code, off the fence. We had two guests on that people just went absolutely crazy for.

00:00:39.020 | But they weren't available, so. We're just going to talk shit about them.

00:00:43.280 | No, we have two amazing Davids in our lives, David Friedberg and David Sachs. They are super smart,

00:00:50.940 | super effective at their work. Everything we're not, Chamath. We bring them back on the podcast.

00:00:56.200 | And we'll do a little roundtable here and talk about life in the age of corona. So welcome back

00:01:01.680 | to the podcast, David Sachs. Yeah, good to be back with you.

00:01:06.360 | And also David Friedberg. Thank you, guys. Happy to be here.

00:01:10.420 | All right. Fantastic. So I just want to start off with our quarr check. How is everybody doing

00:01:17.280 | in this quarantine? How's everybody's mental health? Let's start with you, Sachs.

00:01:20.920 | Well, as you might be able to see, we've moved our

00:01:26.020 | bunker to undisclosed Mexican location. And it's been great.

00:01:33.060 | I think it's really kind of sad because where we're at is a tourist city that would normally be

00:01:42.640 | at peak season. And it's just deserted right now. All the construction stopped.

00:01:47.280 | Normally, you see lots of hotels and houses being built, and that's all stopped.

00:01:52.920 | And there's no tourists. So it's all just...

00:01:56.000 | It's kind of cleared out. But I think it's quite safe. Every worker that I've seen here since

00:02:03.480 | we landed at the airport got transported to the community we're at has been wearing a mask,

00:02:10.540 | much more consistent than I think in the US. And I think it's been fine.

00:02:17.500 | Now, of course, you founded the Kraft Venture Capital Firm. And people know before that,

00:02:23.660 | you obviously did Yammer and sold that to...

00:02:25.880 | Microsoft for a billion dollars plus. And before that, you were the COO at PayPal.

00:02:30.400 | What's going on with your business? Are you actively investing? And how is your firm running

00:02:38.500 | remote?

00:02:39.120 | It's worked very well. I mean, we've always been super collaborative as a firm. We were already on

00:02:48.220 | Zoom and we share everything on Yammer. And so for us, just moving to Zoom wasn't that difficult.

00:02:55.760 | We've done four or five deals, I think, since the whole quarantine started.

00:03:01.440 | I'm sorry. Did you say that you actually use Yammer now in 2020?

00:03:06.200 | We're still using it.

00:03:07.140 | Oh, my God. Is Yammer still available? That's insane.

00:03:11.900 | I mean, it's kind of gone a little bit buried inside of Microsoft, but you can certainly still

00:03:15.760 | get it. And no, we love it. I mean, the whole firm kind of works in Yammer. And it works very well

00:03:22.720 | for us.

00:03:23.120 | And now what's going to happen with this incredible office that you've got?

00:03:25.640 | You have this beautiful office you have in San Francisco in commercial real estate now that

00:03:29.920 | are you going to come back to work? We saw Twitter and Square, the Jack collection of

00:03:35.520 | companies. They're not going to come back to their offices. They work from home primarily

00:03:38.420 | going forward. What are you going to do? Well, it'll be a great asset for us in the

00:03:43.300 | year 2025 or something like that. No, I mean, we will eventually go back to work there.

00:03:48.500 | I think that the team still likes having an office. I think the idea that everyone wants to work out of

00:03:55.520 | a small room and extra room in their house, I think it's probably a little overrated. I think

00:04:01.300 | people would like to get back to the office. But do we have to have one? No. I mean, I think we've

00:04:08.220 | proven that we can do our jobs via Zoom. And we've done a lot of, like I said, we've done

00:04:15.500 | four or five deals since this started where we haven't met with the entrepreneur in person. It's

00:04:19.820 | all been done via Zoom. And it's worked great. All right, Chamath, how are you doing? How's

00:04:25.400 | your mental health like? I get to see you once in a while on CNBC throwing bombs. But how are you

00:04:32.580 | doing? I was really excited for phase two of the shelter in place to start here in San Mateo County.

00:04:45.100 | So that's been really good. A new poker table that I had built arrived today, which I'll be

00:04:52.920 | installing after this. And what I mean by that is I'm going to be installing a new poker table

00:04:55.280 | I'll be installing uh you'll be supervising I'll be supervising you'll be watching as people do

00:05:00.940 | real work watching and um it's a beautiful table I saw the pictures of it doesn't have an infinity

00:05:05.580 | edge is it an infinity edge table no no no no but I'll send you a picture when it's all done but

00:05:10.780 | it just looks stunning um and I really want to try to organize the game soon so that I can get

00:05:16.000 | you guys back into the um into my little cave here yeah I am uh ready for this shelter in place to

00:05:23.820 | end uh I'll just be honest and uh I think that my sentiments are the sentiments of a lot of people

00:05:28.760 | it's uh it's really tough really really tough I I'm I'm losing all my motivation to be quite honest

00:05:34.280 | it is weird to not see people even and you're an extrovert uh David you're an introvert and then

00:05:41.360 | David Freeberg also on the line David uh how are you handling all of this

00:05:46.480 | I'm fine I think uh one of the things that made a huge difference for me is the uh

00:05:52.100 | creating a rhythm in the day because there

00:05:53.800 | isn't one when you kind of normally get up and you go to work and then you come home at the end

00:05:58.920 | of the day from work that's a rhythm and you're you kind of get kind of adjusted to it so not

00:06:03.800 | having that a lot of people I've been hearing are struggling with that I was certainly struggling

00:06:06.920 | with it having sleep issues and I sit on about a dozen boards some of which are small companies

00:06:13.480 | some of which have a couple hundred employees and I've been hearing pretty consistently mental health

00:06:17.320 | issues across all the companies uh and I think it's just been really grating on people I think it

00:06:23.320 | number one is that there's a lot of people who are struggling with their sleep issues and I think

00:06:23.780 | number one kind of says we probably do need to be together and have social space uh as David said

00:06:28.820 | like being in the same office people really miss that and you get a lot of value from that

00:06:32.180 | um I know I've been getting up every day in the last couple of weeks and going off-site going out

00:06:39.200 | of my house to go work uh we're actually working on another place and I have like a little office

00:06:43.580 | there and I go kind of work there um and so that's made a huge impact honestly on my mental health

00:06:47.600 | being able to do that every day so um just doing that's been helpful not everyone has that privilege

00:06:52.940 | but uh I think it speaks a lot to why we're going to need to go back to offices when this is all done

00:06:57.020 | and what do you think about what's happening with your businesses obviously you're running a

00:07:01.220 | a startup studio I guess would be one way to describe it where you create companies and then

00:07:05.420 | spin them out what's been the business interruption if any uh we have a couple of hardware and lab

00:07:11.660 | companies that's most of what we've done and so those operations are paused so that's been really

00:07:16.160 | frustrating the teams have all found ways to adjust and work from home so our companies are

00:07:19.640 | not predominantly software-based there's a lot of software

00:07:22.920 | but it's not predominantly software so it's been difficult on those uh scientists and engineers

00:07:27.540 | that work in a lab or in a physical environment that they have to go to to do their work uh the

00:07:32.520 | larger companies we have a number of food businesses that uh happen to be in the food

00:07:36.120 | supply chain one way or another frankly those businesses are doing fantastically well uh and

00:07:40.920 | there's been just this incredible success uh in the era of covid on kind of a focus on fundamentals

00:07:46.500 | like food supply chain efficiency availability of things that people need and we were doing a lot in

00:07:52.900 | the past and we've kind of benefited from that um so yeah I think uh it's kind of a mix for us but uh

00:07:58.360 | I think every business is bifurcated one way or another during this kind of moment of punctuated

00:08:03.400 | equilibrium yeah I think one thing I'd like to sort of talk about is we've had you both on the

00:08:08.380 | podcast early on at the start of the pandemic and I'm curious Chamath now that we're here

00:08:14.200 | um over two months in quarantine uh sheltering in place and a lot of information a lot of cards

00:08:20.080 | have turned over here right we've seen the flop I think

00:08:22.880 | we haven't seen the the turn in the river so to speak what is your assessment of what we were

00:08:29.180 | talking about you know a month or two ago and what we thought about this and what's become reality and

00:08:34.100 | what hasn't what are you more optimistic about what are you more pessimistic about Chamath let's

00:08:38.120 | start with you I think that um we will have this pandemic or this disease uh well in hand within

00:08:49.760 | two years and so whether it's a combination of a

00:08:52.860 | therapeutic end of vaccine or just a therapeutic um I just think that we're gonna kick its ass and

00:09:00.120 | so that's made me more optimistic um I think that the thing that's made me more pessimistic

00:09:06.720 | though is the return to normalcy has been sort of cut on political lines and it's been so massively

00:09:14.940 | politicized I mean when David talks about the fact that you know you can go to a developing country

00:09:19.200 | like Mexico and all of a sudden you know everybody can get around

00:09:22.840 | the idea of masks it's because that there's a level of common sense there that uh trumps politics

00:09:29.020 | and uh in the United States that just isn't the case and so what you're seeing in in this crazy

00:09:34.960 | way I think is sort of the center left and the left uh probably sticking very firmly to the

00:09:43.540 | ideology of sheltering in place and a lockdown probably on the sort of hope that it gets Trump

00:09:51.280 | out of office and on the other side sort of the red states I think have basically said hey uh I

00:09:57.520 | would rather get sick from coronavirus and take my chances than the hundred percent chance of failure

00:10:03.700 | that I have in my professional life if you leave me at home for another week or month or what have

00:10:08.440 | you um so that's been a huge disappointment of how political this whole thing has gotten and

00:10:14.320 | sax you've been talking about like common sense procedures sort of same question to you what you

00:10:20.620 | first thought and what you thought about the pandemic and what you thought about the pandemic

00:10:21.260 | and you had been talking about you thought an L-shaped recovery so we'll get into also the

00:10:25.580 | economy here but in terms of the disease what did you think two months ago that you don't think now

00:10:31.640 | and what do you think uh yeah well in preparation for this I kind of went through my Twitter feed

00:10:37.520 | to see uh what I was saying the last time I was on the pod and how well it was holding up and

00:10:43.280 | two months ago today I tweeted that um the pandemic that under reaction caused the pandemic and overreaction

00:10:51.240 | will cause the depression and I think that's kind of where we are right now um we still have this

00:10:57.420 | pandemic with us but now we're also potentially facing I think a potential depression because of

00:11:03.000 | the way we're we're overreacting we're still in lockdowns um in you know huge swaths of the of the

00:11:09.840 | country um and uh no one can quite understand why I mean the original reason for the lockdowns was

00:11:16.860 | to buy us time so that the hospitals wouldn't become overwhelmed like Italy

00:11:21.220 | well nowhere in the country did the hospitals get overwhelmed and we're still in these lockdowns and

00:11:25.600 | um and so you know I I I think that um it's it's long overdue for for it to end now at the same time

00:11:33.820 | you know where I agree with Chamath that this whole thing's become politicized where um you

00:11:39.880 | know the the people who generally want to get us out of lockdowns don't believe in doing anything

00:11:45.040 | you know they're not even a lot of them aren't even willing to wear masks which I think is just

00:11:49.720 | kind of insane

00:11:50.560 | um so you know where I come out on this thing is that I think we should end lockdowns but wear

00:11:56.740 | masks and it's very hard to find anybody you know in the in the political spectrum who who agrees

00:12:03.220 | with that because you know one side wants to keep lockdowns going indefinitely and the other doesn't

00:12:08.680 | want us to wear masks and it makes no logical sense obviously and if you think about our political

00:12:13.300 | system the left is so far left that the moderates on the left side don't have a place to live anymore

00:12:19.060 | and then on the right the

00:12:20.400 | conservatives which I would put you in uh the group of who were um you know looking for fiscal

00:12:26.220 | conservatives conservatives um they don't have a home anymore either and so the most reasonable

00:12:32.520 | approach is clearly to start going back to work for people who are not at risk and who wear a mask

00:12:40.620 | yeah I think I think there's been since the last pod that we did together I think there's been

00:12:45.840 | three kind of major discoveries or sets of facts that have come out of that and I think that's a

00:12:46.320 | big part of the reason why we're doing this because we're not going to be able to do it again

00:12:46.880 | and we're not going to be able to do it again and we're not going to be able to do it again

00:12:47.280 | and we're not going to be able to do it again and we're not going to be able to do it again

00:12:47.780 | and we're not going to be able to do it again and we're not going to be able to do it again

00:12:48.080 | um so I think that's a big part of the reason why we're doing this because we're not going to be

00:12:50.960 | able to do it again and we're not going to be able to do it again

00:12:51.680 | number one um the official fatality rate has been over which is about six percent um you know it's

00:12:59.120 | a very high fatality rate it's pretty scary but we now know that that's overstated by probably at

00:13:05.040 | least 10x um because it doesn't take into account all the asymptomatic cases or mild cases uh that

00:13:13.120 | just never got tested um and this is the fatality rate of people who contracted the virus

00:13:18.000 | right as a yes exactly uh as opposed to people whose case the the the problem with the uh it's

00:13:24.320 | kind of a debate between the the ifr versus the cfr the infection fatality rate versus the case

00:13:29.760 | fatality rate the um the problem with kind of the official cfr numbers is that only the people who

00:13:35.440 | got really sick or you know ever got tested and um you know freeburg was the earliest person um

00:13:42.240 | I know to start talking about the need for wide scale population testing and these blood serology

00:13:47.680 | tests and other kinds of tests to establish what the real baseline is um but regardless of like and

00:13:53.440 | there's been a whole bunch of different tests with different results um I you know um we don't know

00:13:59.120 | exactly what the true ifr is to this day but we do know it's probably closer to half a percent than

00:14:05.760 | to five percent so that's sort of discovery number one I think discovery number two is and we knew a

00:14:12.560 | little bit we saw a little bit of this from the wuhan data but now it's really clear

00:14:17.360 | at risk that which populations are at risk.

00:14:22.160 | The data seems to suggest that people under 60 who are healthy don't have pre-existing

00:14:27.540 | conditions are 50 times less likely to develop or there's a 50x greater chance for those

00:14:35.860 | over 60 in terms of having a really bad outcome.

00:14:41.580 | For people under 60 who don't have these pre-existing conditions, it's just not … Yes, there's

00:14:46.760 | always examples to the contrary, but it's not this gigantic risk.

00:14:53.420 | For two-thirds of the population, they don't have a huge risk and we're still locking

00:14:57.440 | them down.

00:14:59.180 | I think the third study, not just study, there's been studies and there's been models and

00:15:04.620 | then we've also seen practice, is that wide-scale use of masks or ubiquitous mask wearing is

00:15:13.580 | sufficient to control the virus.

00:15:16.160 | To stop the exponentiality of the virus.

00:15:18.960 | We've seen in the Asian countries or Czechoslovakia, other places, they've been able to get the

00:15:26.920 | so-called R-naught, the viral coefficient, to go below one with wide-scale use of masks.

00:15:34.120 | We have a way to prevent the virus from going exponential that doesn't require lockdowns.

00:15:42.020 | The thing I blogged about the last time I was on your show was, "Why would you use a mask?"

00:15:42.460 | I was like, "I don't know what you're talking about.

00:15:42.920 | You're talking about the virus."

00:15:43.320 | I was like, "I don't know what you're talking about.

00:15:43.420 | Why would you use a mask?"

00:15:43.780 | I was like, "Why would you use a mask?"

00:15:43.880 | I was like, "Why would you use a mask?"

00:15:44.120 | I was like, "Why would you use a mask?"

00:15:44.380 | I was like, "Why would you use a mask?"

00:15:44.520 | I was like, "Why would you use a mask?" The last time I was on your show was, "Why

00:15:45.880 | would you do this most severe thing, these lockdowns, and not do this easy thing that's

00:15:51.740 | just merely inconvenient, which is a mask?"

00:15:54.120 | Freberg, when you look at it, and you're the, I think, have the deepest science, clearly

00:15:57.300 | have the deepest science background of all of us.

00:16:00.720 | How do you look at this pandemic, now that we're 75 days into it here in the Bay Area,

00:16:08.200 | and obviously this started in December, it looks like, in China?

00:16:12.820 | What's your take on it now?

00:16:13.920 | What did you get right early, and what have you changed your mind about recently?

00:16:18.100 | I think, I'm actually funny, when you say that, I just pulled up the original

00:16:23.580 | WHO joint mission on COVID final report.

00:16:27.680 | The date of this report, by the way, is February 20th.

00:16:31.940 | There was this big thing they published, 40 pages long from the WHO, and in it, they highlighted

00:16:37.660 | this fatality rate estimate inside of Hubei, Wuhan, and outside of Hubei.

00:16:43.320 | We knew from this data very early on that we were at about a half percent fatality rate.

00:16:49.140 | And then we saw all of this other stuff happen with Korea, and the Princess cruise ship,

00:16:53.880 | and the NBA players.

00:16:55.320 | Very early on, we saw all these people that were roughly asymptomatic, and we're starting

00:16:59.500 | to get two kind of explanations for why that is.

00:17:02.960 | But from the beginning, I felt really like this is going to be a largely asymptomatic

00:17:08.780 | kind of spreading infectious factor.

00:17:11.300 | What I got wrong…

00:17:12.320 | What?

00:17:13.320 | was when we went into lockdown.

00:17:14.820 | I don't know, Chamath, if you remember this,

00:17:16.240 | when we talked the first time on Jason's,

00:17:17.980 | on your guys' podcast.

00:17:19.580 | I asked you guys, or you guys asked me

00:17:21.920 | when I thought we'd be back.

00:17:22.720 | And I was like, oh, April 7th, we'll be back to work.

00:17:24.400 | And I also had a bet going with you guys.

00:17:27.040 | And I said, we're going to have less than 20,000

00:17:28.520 | deaths in the US.

00:17:29.280 | I so overestimated the effectiveness of the lockdown.

00:17:33.280 | And I think that was kind of, you know,

00:17:36.040 | one of the more kind of like striking things to me

00:17:38.960 | is the quote unquote lockdown.

00:17:40.920 | And I just sent a video to Nick.

00:17:42.660 | Nick, do you have it?

00:17:43.480 | Can you queue it up?

00:17:44.100 | So basically, this is what I think has happened

00:17:47.320 | in the United States.

00:17:48.040 | Like pull this thing up.

00:17:48.960 | I was in Berkeley on Saturday.

00:17:50.160 | And I went to play, to meet some buddies.

00:17:52.840 | And we played Frisbee golf on campus

00:17:54.720 | and had a beer, some college buddies of mine.

00:17:56.460 | And so I'm walking around in Berkeley

00:17:58.440 | and there is frat party after frat party going on.

00:18:01.160 | No masks.

00:18:02.060 | Everyone's on top of each other.

00:18:03.420 | You can see the video right here.

00:18:05.000 | I took a video of one of the frat parties.

00:18:05.920 | I think that's beer pong.

00:18:06.540 | Yeah, they're all paying beer pong.

00:18:08.320 | There's like girls and drinking.

00:18:09.640 | And people are passing around bottles of vodka.

00:18:11.200 | And there's no mask.

00:18:12.560 | And this was the entire campus of Berkeley.

00:18:14.260 | And I think this is what's gone on around the country.

00:18:16.840 | So the belief that you could just kind of lock away the virus,

00:18:20.520 | I believe like, oh my God, it's so extreme.

00:18:23.380 | It's so draconian.

00:18:24.220 | We're going to shut down the world.

00:18:25.540 | And this thing is going to get stopped in 30 days

00:18:27.720 | like happened in China.

00:18:29.060 | That is not what happened in the United States of America.

00:18:31.380 | People want to be free.

00:18:32.560 | People want to party.

00:18:33.360 | People want to live their life.

00:18:34.340 | They want to go to work.

00:18:35.160 | They want to see their friends and family.

00:18:36.820 | And they're not used to being told no by the government.

00:18:39.540 | And so I think that's been, to me,

00:18:42.220 | the biggest surprise is just like how ineffective

00:18:44.580 | the quote unquote lockdown has been.

00:18:46.220 | And I think it really speaks to the need that David mentioned,

00:18:48.960 | which is this lockdown isn't binary.

00:18:51.120 | You can't just say lock everyone down or let them all out.

00:18:53.320 | You've got to nuance your way to a solution,

00:18:55.480 | which means like masks,

00:18:57.240 | which means watching out for nursing homes,

00:18:59.080 | which means temperature checking

00:19:00.280 | before letting people into buildings of over 100 people,

00:19:02.480 | like all the stuff that I think needs to be done

00:19:04.800 | for this to be kind of effective at tracking and tracing.

00:19:08.420 | And we can't just assume that,

00:19:12.120 | you know, a quote unquote lockdown

00:19:13.320 | is going to keep people inside

00:19:14.340 | and keep this thing from spreading

00:19:15.240 | because the frat party, as you'll see,

00:19:16.740 | is the perfect representation

00:19:17.920 | of what's really going on out there.

00:19:20.480 | All right, circling back around to you, Chamath,

00:19:22.400 | what do you think of what the two Davids

00:19:25.600 | sort of outlined there in terms of the path forward

00:19:28.200 | and how we all handicapped what was going on?

00:19:31.500 | Well, I think the reality is that by hook or crook,

00:19:39.540 | we're going to basically exit this lockdown sooner

00:19:42.020 | than we think because I think people

00:19:43.460 | just can't take it anymore.

00:19:44.500 | So there's no point in having a shelter in place order

00:19:47.860 | if everybody's running around playing beer pong.

00:19:49.660 | And so it's not doing anything.

00:19:52.540 | And so you might as well get the productive value

00:19:55.940 | of the economy going again

00:19:59.060 | by letting people go back to work.

00:20:00.620 | You know, we, and just finding some simple ways

00:20:06.040 | that people can look past the politics

00:20:09.780 | and just do the right thing.

00:20:11.920 | And so I think that's the reality.

00:20:13.540 | And I think that's the reality.

00:20:14.660 | And I think that's the reality.

00:20:15.620 | And I think that's the reality.

00:20:15.660 | And I think that's the reality.

00:20:15.700 | And I think that's the reality.

00:20:15.740 | And I think that's the reality.

00:20:15.780 | And I think that's the reality.

00:20:15.860 | And I think that's the reality.

00:20:15.920 | It's really like, I mean, when you think about it,

00:20:18.840 | it's like, why is this such a big deal?

00:20:21.020 | Get everything you want

00:20:23.300 | and just put a little bit of cloth over your face.

00:20:25.440 | I mean, a lot of the folks that push back on this,

00:20:28.320 | you know, they're better off wearing the mask.

00:20:31.240 | Yeah.

00:20:32.700 | I mean, it is pretty striking when you watch the protests

00:20:36.380 | and you see a bunch of people who are, you know,

00:20:38.780 | obviously older and obviously obese.

00:20:40.900 | Those are not the people.

00:20:41.820 | Those are not the best looking knives in the drawer.

00:20:43.420 | Let's just put it that way.

00:20:44.400 | Not, definitely not.

00:20:45.380 | And-

00:20:46.080 | Little dull and rusty is what I would say.

00:20:47.680 | Well, and you know, they're carrying guns

00:20:49.560 | and they've never served a day in the army.

00:20:51.100 | I mean, it's, they're literally cosplaying Marines.

00:20:54.260 | I have nothing to say about that.

00:20:56.040 | All I'm saying is this whole mask thing

00:20:58.420 | is not such a big deal.

00:20:59.320 | Just if you can wear a mask and get back to being productive

00:21:02.720 | and get back to a job, I think you should be allowed to.

00:21:04.700 | All right.

00:21:05.280 | So we had a big debate, V-shaped, W-shaped,

00:21:08.340 | U-shaped, L-shaped recovery.

00:21:10.200 | I was in the-

00:21:11.720 | I'm aspirationally V-shaped, but I'm expecting a U.

00:21:14.920 | Sax, you were the L.

00:21:16.480 | And I think Chamath, you were the W, the U or the L.

00:21:20.140 | We've had a V.

00:21:20.740 | How do you explain, Chamath,

00:21:23.020 | what is going on in the stock market?

00:21:24.660 | Because you said it was the end of days.

00:21:26.200 | You said this is going to be a disaster.

00:21:29.240 | Is it going to be a disaster?

00:21:31.140 | Is this the end of the days

00:21:32.360 | and we've got some false rebound

00:21:33.940 | and this V-shaped recovery is not sustainable?

00:21:36.420 | How do you explain this inexplainable V-shaped responsibility?

00:21:41.620 | There's two things to keep in mind.

00:21:44.180 | First of all, the economy is completely fucked.

00:21:46.960 | So don't look at Facebook, Apple, Amazon, Microsoft, Google

00:21:52.960 | and a handful of internet SaaS companies and kid yourself.

00:21:56.860 | We have 30 million American men and women out of work.

00:22:00.880 | That is every fifth person you see walking down the street

00:22:04.560 | does not have a job.

00:22:05.460 | What happens when lockdown ends?

00:22:06.980 | If the lockdown ends in June, as expected for most people,

00:22:10.040 | how many people are-

00:22:11.520 | How many rebound?

00:22:12.420 | Yeah.

00:22:13.500 | No.

00:22:13.760 | So look, here's the thing that we've had.

00:22:16.020 | We've had trillions of dollars of money printed into the system.

00:22:20.040 | And when you print that money into the system,

00:22:23.760 | which the Federal Reserve has done,

00:22:25.740 | it hits the asset markets

00:22:27.500 | and it has basically stabilized the bond market

00:22:30.500 | and the incremental dollar sits in the hands of an individual

00:22:35.220 | who must put the money to work.

00:22:37.360 | Because when you look back on this,

00:22:38.940 | this is not, you know,

00:22:41.420 | this is a random person managing their 401k.

00:22:43.220 | The overwhelming majority of the money sits in the hands of hedge funds

00:22:47.420 | or pension funds or sovereign wealth funds or mutual funds.

00:22:50.660 | They have a job to do.

00:22:52.180 | And so you have to think about what is their incremental decision.

00:22:56.180 | So even if the stock market made no sense on any valuation metric,

00:22:59.800 | the incremental dollars that they have,

00:23:02.540 | which they're paid to put to work, will get put to work.

00:23:04.640 | And so what you've actually seen is a dispersion.

00:23:08.780 | And what I mean by that is if you graph,

00:23:11.320 | the S&P 500 index versus the unweighted S&P 500 index,

00:23:17.700 | which basically means the first one ranks companies by market cap

00:23:22.100 | and gives the biggest companies more weight.

00:23:23.900 | The other one ranks every company equally.

00:23:25.980 | There's been a massive split, a dispersion.

00:23:28.920 | And what it really shows is that companies that traffic in bits,

00:23:33.320 | so software businesses have a bid

00:23:36.000 | and companies that traffic in atoms have gotten completely decimated

00:23:39.580 | and they are literally worthless.

00:23:41.220 | And so when you put all these things together,

00:23:43.220 | the real economy is in the toilet.

00:23:45.220 | There are tens of millions of men and women out of work.

00:23:47.220 | The earnings power of real companies that do physical things in the world

00:23:49.220 | are cheaper and lower than they've ever been.

00:23:51.220 | Meanwhile, the companies that have high velocity,

00:23:53.220 | high margin software driven businesses have gone to the moon.

00:23:55.220 | So it's unfair to look at 30 or 40 businesses that are going to be

00:23:58.220 | in the same business cycle as the rest of the world.

00:24:00.220 | And so the real economy is in the toilet.

00:24:02.220 | There are tens of millions of men and women out of work.

00:24:04.220 | The earnings power of real companies that do physical things in the world

00:24:06.220 | are cheaper and lower than they've ever been.

00:24:08.220 | Meanwhile, the companies that have high velocity, high margin,

00:24:11.120 | and they're not going to be in the toilet.

00:24:13.120 | There are tens of millions of men and women out of work.

00:24:15.120 | There are tens of millions of women and women out of work.

00:24:17.120 | There are tens of millions of men and women out of work.

00:24:19.120 | There are tens of millions of women and women out of work.

00:24:21.120 | There are tens of millions of men and women out of work.

00:24:23.120 | There are tens of millions of women and women out of work.

00:24:25.120 | There are tens of millions of men and women out of work.

00:24:27.120 | There are tens of millions of women and women out of work.

00:24:29.120 | There are tens of millions of men and women out of work.

00:24:31.120 | There are tens of millions of women and women out of work.

00:24:33.120 | There are tens of millions of women and women out of work.

00:24:35.120 | There are tens of millions of women and women out of work.

00:24:37.120 | There are tens of millions of women and women out of work.

00:24:39.120 | There are tens of millions of women and women out of work.

00:24:41.120 | There are tens of millions of women and women out of work.

00:24:43.120 | There are tens of millions of women and women out of work.

00:24:45.120 | There are tens of millions of women and women out of work.

00:24:47.120 | There are tens of millions of women and women out of work.

00:24:49.120 | There are tens of millions of women and women out of work.

00:24:51.120 | There are tens of millions of women and women out of work.

00:24:53.120 | There are tens of millions of women and women out of work.

00:24:55.120 | There are tens of millions of women and women out of work.

00:24:57.120 | There are tens of millions of women and women out of work.

00:24:59.120 | There are tens of millions of women and women out of work.

00:25:01.120 | There are tens of millions of women and women out of work.

00:25:03.120 | There are tens of millions of women and women out of work.

00:25:05.120 | There are tens of millions of women and women out of work.

00:25:07.120 | There are tens of millions of women and women out of work.

00:25:09.120 | There are tens of millions of women and women out of work.

00:25:11.120 | There are tens of millions of women and women out of work.

00:25:13.120 | There are tens of millions of women and women out of work.

00:25:15.120 | There are tens of millions of women and women out of work.

00:25:17.120 | There are tens of millions of women and women out of work.

00:25:19.120 | There are tens of millions of women and women out of work.

00:25:21.120 | There are tens of millions of women and women out of work.

00:25:23.120 | There are tens of millions of women and women out of work.

00:25:25.120 | There are tens of millions of women and women out of work.

00:25:27.120 | There are tens of millions of women and women out of work.

00:25:29.120 | There are tens of millions of women and women out of work.

00:25:31.120 | There are tens of millions of women and women out of work.

00:25:33.120 | There are tens of millions of women and women out of work.

00:25:35.120 | There are tens of millions of women and women out of work.

00:25:37.120 | There are tens of millions of women and women out of work.

00:25:39.120 | There are tens of millions of women and women out of work.

00:25:41.120 | There are tens of millions of women and women out of work.

00:25:43.120 | There are tens of millions of women and women out of work.

00:25:45.120 | There are tens of millions of women and women out of work.

00:25:47.120 | There are tens of millions of women and women out of work.

00:25:49.120 | There are tens of millions of women and women out of work.

00:25:51.120 | There are tens of millions of women and women out of work.

00:25:53.120 | There are tens of millions of women and women out of work.

00:25:55.120 | There are tens of millions of women and women out of work.

00:25:57.120 | There are tens of millions of women and women out of work.

00:25:59.120 | There are tens of millions of women and women out of work.

00:26:01.120 | There are tens of millions of women and women out of work.

00:26:03.120 | There are tens of millions of women and women out of work.

00:26:05.120 | There are tens of millions of women and women out of work.

00:26:07.120 | There are tens of millions of women and women out of work.

00:26:09.120 | There are tens of millions of women and women out of work.

00:26:11.120 | There are tens of millions of women and women out of work.

00:26:13.120 | There are tens of millions of women and women out of work.

00:26:15.120 | There are tens of millions of women and women out of work.

00:26:17.120 | There are tens of millions of women and women out of work.

00:26:19.120 | There are tens of millions of women and women out of work.

00:26:21.120 | There are tens of millions of women and women out of work.

00:26:23.120 | There are tens of millions of women and women out of work.

00:26:25.120 | There are tens of millions of women and women out of work.

00:26:27.120 | There are tens of millions of women and women out of work.

00:26:29.120 | There are tens of millions of women and women out of work.

00:26:31.120 | There are tens of millions of women and women out of work.

00:26:33.120 | There are tens of millions of women and women out of work.

00:26:35.120 | There are tens of millions of women and women out of work.

00:26:37.120 | There are tens of millions of women and women out of work.

00:26:39.120 | There are tens of millions of women and women out of work.

00:26:41.120 | There are tens of millions of women and women out of work.

00:26:43.120 | There are tens of millions of women and women out of work.

00:26:45.120 | There are tens of millions of women and women out of work.

00:26:47.120 | There are tens of millions of women and women out of work.

00:26:49.120 | There are tens of millions of women and women out of work.

00:26:51.120 | There are tens of millions of women and women out of work.

00:26:53.120 | There are tens of millions of women and women out of work.

00:26:55.120 | There are tens of millions of women and women out of work.

00:26:57.120 | There are tens of millions of women and women out of work.

00:26:59.120 | There are tens of millions of women and women out of work.

00:27:01.120 | There are tens of millions of women and women out of work.

00:27:03.120 | There are tens of millions of women and women out of work.

00:27:05.120 | There are tens of millions of women and women out of work.

00:27:07.120 | There are tens of millions of women and women out of work.

00:27:09.120 | There are tens of millions of women and women out of work.

00:27:11.120 | There are tens of millions of women and women out of work.

00:27:13.120 | There are tens of millions of women and women out of work.

00:27:15.120 | There are tens of millions of women and women out of work.

00:27:17.120 | There are tens of millions of women and women out of work.

00:27:19.120 | There are tens of millions of women and women out of work.

00:27:21.120 | There are tens of millions of women and women out of work.

00:27:23.120 | There are tens of millions of women and women out of work.

00:27:25.120 | There are tens of millions of women and women out of work.

00:27:27.120 | There are tens of millions of women and women out of work.

00:27:29.120 | There are tens of millions of women and women out of work.

00:27:31.120 | There are tens of millions of women and women out of work.

00:27:33.120 | There are tens of millions of women and women out of work.

00:27:35.120 | There are tens of millions of women and women out of work.

00:27:37.120 | There are tens of millions of women and women out of work.

00:27:39.120 | There are tens of millions of women and women out of work.

00:27:41.120 | There are tens of millions of women and women out of work.

00:27:43.120 | There are tens of millions of women and women out of work.

00:27:45.120 | There are tens of millions of women and women out of work.

00:27:47.120 | There are tens of millions of women and women out of work.

00:27:49.120 | There are tens of millions of women and women out of work.

00:27:51.120 | There are tens of millions of women and women out of work.

00:27:53.120 | There are tens of millions of women and women out of work.

00:27:55.120 | There are tens of millions of women and women out of work.

00:27:57.120 | There are tens of millions of women and women out of work.

00:27:59.120 | There are tens of millions of women and women out of work.

00:28:01.120 | There are tens of millions of women and women out of work.

00:28:03.120 | There are tens of millions of women and women out of work.

00:28:05.120 | There are tens of millions of women and women out of work.

00:28:07.120 | There are tens of millions of women and women out of work.

00:28:09.120 | There are tens of millions of women and women out of work.

00:28:11.120 | There are tens of millions of women and women out of work.

00:28:13.120 | There are tens of millions of women and women out of work.

00:28:15.120 | There are tens of millions of women and women out of work.

00:28:17.120 | There are tens of millions of women and women out of work.

00:28:19.120 | There are tens of millions of women and women out of work.

00:28:21.120 | There are tens of millions of women and women out of work.

00:28:23.120 | There are tens of millions of women and women out of work.

00:28:25.120 | There are tens of millions of women and women out of work.

00:28:27.120 | There are tens of millions of women and women out of work.

00:28:29.120 | There are tens of millions of women and women out of work.

00:28:31.120 | There are tens of millions of women and women out of work.

00:28:33.120 | There are tens of millions of women and women out of work.

00:28:35.120 | There are tens of millions of women and women out of work.

00:28:37.120 | There are tens of millions of women and women out of work.

00:28:39.120 | There are tens of millions of women and women out of work.

00:28:41.120 | There are tens of millions of women and women out of work.

00:28:43.120 | There are tens of millions of women and women out of work.

00:28:45.120 | There are tens of millions of women and women out of work.

00:28:47.120 | There are tens of millions of women and women out of work.

00:28:49.120 | There are tens of millions of women and women out of work.

00:28:51.120 | There are tens of millions of women and women out of work.

00:28:53.120 | There are tens of millions of women and women out of work.

00:28:55.120 | There are tens of millions of women and women out of work.

00:28:57.120 | There are tens of millions of women and women out of work.

00:28:59.120 | There are tens of millions of women and women out of work.

00:29:01.120 | There are tens of millions of women and women out of work.

00:29:03.120 | There are tens of millions of women and women out of work.

00:29:05.120 | There are tens of millions of women and women out of work.

00:29:07.120 | There are tens of millions of women and women out of work.

00:29:09.120 | There are tens of millions of women and women out of work.

00:29:11.120 | There are tens of millions of women and women out of work.

00:29:13.120 | There are tens of millions of women and women out of work.

00:29:15.120 | There are tens of millions of women and women out of work.

00:29:17.120 | There are tens of millions of women and women out of work.

00:29:19.120 | There are tens of millions of women and women out of work.

00:29:21.120 | There are tens of millions of women and women out of work.

00:29:23.120 | There are tens of millions of women and women out of work.

00:29:25.120 | There are tens of millions of women and women out of work.

00:29:27.120 | There are tens of millions of women and women out of work.

00:29:29.120 | There are tens of millions of women and women out of work.

00:29:31.120 | There are tens of millions of women and women out of work.

00:29:33.120 | There are tens of millions of women and women out of work.

00:29:35.120 | There are tens of millions of women and women out of work.

00:29:37.120 | There are tens of millions of women and women out of work.

00:29:39.120 | There are tens of millions of women and women out of work.

00:29:41.120 | There are tens of millions of women and women out of work.

00:29:43.120 | There are tens of millions of women and women out of work.

00:29:45.120 | There are tens of millions of women and women out of work.

00:29:47.120 | There are tens of millions of women and women out of work.

00:29:49.120 | There are tens of millions of women and women out of work.

00:29:51.120 | There are tens of millions of women and women out of work.

00:29:53.120 | There are tens of millions of women and women out of work.

00:29:55.120 | There are tens of millions of women and women out of work.

00:29:57.120 | There are tens of millions of women and women out of work.

00:29:59.120 | There are tens of millions of women and women out of work.

00:30:01.120 | There are tens of millions of women and women out of work.

00:30:03.120 | There are tens of millions of women and women out of work.

00:30:05.120 | There are tens of millions of women and women out of work.

00:30:07.120 | There are tens of millions of women and women out of work.

00:30:09.120 | There are tens of millions of women and women out of work.

00:30:11.120 | There are tens of millions of women and women out of work.

00:30:13.120 | There are tens of millions of women and women out of work.

00:30:15.120 | There are tens of millions of women and women out of work.

00:30:17.120 | There are tens of millions of women and women out of work.

00:30:19.120 | There are tens of millions of women and women out of work.

00:30:21.120 | There are tens of millions of women and women out of work.

00:30:23.120 | There are tens of millions of women and women out of work.

00:30:25.120 | There are tens of millions of women and women out of work.

00:30:27.120 | There are tens of millions of women and women out of work.

00:30:29.120 | There are tens of millions of women and women out of work.

00:30:31.120 | There are tens of millions of women and women out of work.

00:30:33.120 | There are tens of millions of women and women out of work.

00:30:35.120 | There are tens of millions of women and women out of work.

00:30:37.120 | There are tens of millions of women and women out of work.

00:30:39.120 | There are tens of millions of women and women out of work.

00:30:41.120 | There are tens of millions of women and women out of work.

00:30:43.120 | There are tens of millions of women and women out of work.

00:30:45.120 | There are tens of millions of women and women out of work.

00:30:47.120 | There are tens of millions of women and women out of work.

00:30:49.120 | There are tens of millions of women and women out of work.

00:30:51.120 | There are tens of millions of women and women out of work.

00:30:53.120 | There are tens of millions of women and women out of work.

00:30:55.120 | There are tens of millions of women and women out of work.

00:30:57.120 | There are tens of millions of women and women out of work.

00:30:59.120 | There are tens of millions of women and women out of work.

00:31:01.120 | There are tens of millions of women and women out of work.

00:31:03.120 | There are tens of millions of women and women out of work.

00:31:05.120 | There are tens of millions of women and women out of work.

00:31:07.120 | There are tens of millions of women and women out of work.

00:31:09.120 | There are tens of millions of women and women out of work.

00:31:11.120 | There are tens of millions of women and women out of work.

00:31:13.120 | There are tens of millions of women and women out of work.

00:31:15.120 | There are tens of millions of women and women out of work.

00:31:17.120 | There are tens of millions of women and women out of work.

00:31:19.120 | There are tens of millions of women and women out of work.

00:31:21.120 | There are tens of millions of women and women out of work.

00:31:23.120 | There are tens of millions of women and women out of work.

00:31:25.120 | There are tens of millions of women and women out of work.

00:31:27.120 | There are tens of millions of women and women out of work.

00:31:29.120 | There are tens of millions of women and women out of work.

00:31:31.120 | There are tens of millions of women and women out of work.

00:31:33.120 | There are tens of millions of women and women out of work.

00:31:35.120 | There are tens of millions of women and women out of work.

00:31:37.120 | There are tens of millions of women and women out of work.

00:31:39.120 | There are tens of millions of women and women out of work.

00:31:41.120 | There are tens of millions of women and women out of work.

00:31:43.120 | There are tens of millions of women and women out of work.

00:31:45.120 | There are tens of millions of women and women out of work.

00:31:47.120 | There are tens of millions of women and women out of work.

00:31:49.120 | There are tens of millions of women and women out of work.

00:31:51.120 | There are tens of millions of women and women out of work.

00:31:53.120 | There are tens of millions of women and women out of work.

00:31:55.120 | There are tens of millions of women and women out of work.

00:31:57.120 | There are tens of millions of women and women out of work.

00:31:59.120 | There are tens of millions of women and women out of work.

00:32:01.120 | There are tens of millions of women and women out of work.

00:32:03.120 | There are tens of millions of women and women out of work.

00:32:05.120 | There are tens of millions of women and women out of work.

00:32:07.120 | There are tens of millions of women and women out of work.

00:32:09.120 | There are tens of millions of women and women out of work.

00:32:11.120 | There are tens of millions of women and women out of work.

00:32:13.120 | There are tens of millions of women and women out of work.

00:32:15.120 | There are tens of millions of women and women out of work.

00:32:17.120 | There are tens of millions of women and women out of work.

00:32:19.120 | There are tens of millions of women and women out of work.

00:32:21.120 | There are tens of millions of women and women out of work.

00:32:23.120 | There are tens of millions of women and women out of work.

00:32:25.120 | There are tens of millions of women and women out of work.

00:32:27.120 | There are tens of millions of women and women out of work.

00:32:29.120 | There are tens of millions of women and women out of work.

00:32:31.120 | There are tens of millions of women and women out of work.

00:32:33.120 | There are tens of millions of women and women out of work.

00:32:35.120 | There are tens of millions of women and women out of work.

00:32:37.120 | There are tens of millions of women and women out of work.

00:32:39.120 | There are tens of millions of women and women out of work.

00:32:41.120 | There are tens of millions of women and women out of work.

00:32:43.120 | There are tens of millions of women and women out of work.

00:32:45.120 | There are tens of millions of women and women out of work.

00:32:47.120 | There are tens of millions of women and women out of work.

00:32:49.120 | There are tens of millions of women and women out of work.

00:32:51.120 | There are tens of millions of women and women out of work.

00:32:53.120 | There are tens of millions of women and women out of work.

00:32:55.120 | There are tens of millions of women and women out of work.

00:32:57.120 | There are tens of millions of women and women out of work.

00:32:59.120 | There are tens of millions of women and women out of work.

00:33:01.120 | There are tens of millions of women and women out of work.

00:33:03.120 | There are tens of millions of women and women out of work.

00:33:05.120 | There are tens of millions of women and women out of work.

00:33:07.120 | There are tens of millions of women and women out of work.

00:33:09.120 | There are tens of millions of women and women out of work.

00:33:11.120 | There are tens of millions of women and women out of work.

00:33:13.120 | There are tens of millions of women and women out of work.

00:33:15.120 | There are tens of millions of women and women out of work.

00:33:17.120 | There are tens of millions of women and women out of work.

00:33:19.120 | There are tens of millions of women and women out of work.

00:33:21.120 | There are tens of millions of women and women out of work.

00:33:23.120 | There are tens of millions of women and women out of work.

00:33:25.120 | There are tens of millions of women and women out of work.

00:33:27.120 | There are tens of millions of women and women out of work.

00:33:29.120 | There are tens of millions of women and women out of work.

00:33:31.120 | There are tens of millions of women and women out of work.

00:33:33.120 | There are tens of millions of women and women out of work.

00:33:35.120 | There are tens of millions of women and women out of work.

00:33:37.120 | There are tens of millions of women and women out of work.

00:33:39.120 | There are tens of millions of women and women out of work.

00:33:41.120 | There are tens of millions of women and women out of work.

00:33:43.120 | There are tens of millions of women and women out of work.

00:33:45.120 | There are tens of millions of women and women out of work.

00:33:47.120 | There are tens of millions of women and women out of work.

00:33:49.120 | There are tens of millions of women and women out of work.

00:33:51.120 | There are tens of millions of women and women out of work.

00:33:53.120 | There are tens of millions of women and women out of work.

00:33:55.120 | There are tens of millions of women and women out of work.

00:33:57.120 | There are tens of millions of women and women out of work.

00:33:59.120 | There are tens of millions of women and women out of work.

00:34:01.120 | There are tens of millions of women and women out of work.

00:34:03.120 | There are tens of millions of women and women out of work.

00:34:05.120 | There are tens of millions of women and women out of work.

00:34:07.120 | There are tens of millions of women and women out of work.

00:34:09.120 | There are tens of millions of women and women out of work.

00:34:11.120 | There are tens of millions of women and women out of work.

00:34:13.120 | There are tens of millions of women and women out of work.

00:34:15.120 | There are tens of millions of women and women out of work.

00:34:17.120 | There are tens of millions of women and women out of work.

00:34:19.120 | There are tens of millions of women and women out of work.

00:34:21.120 | There are tens of millions of women and women out of work.

00:34:23.120 | There are tens of millions of women and women out of work.

00:34:25.120 | There are tens of millions of women and women out of work.

00:34:27.120 | There are tens of millions of women and women out of work.

00:34:29.120 | There are tens of millions of women and women out of work.

00:34:31.120 | There are tens of millions of women and women out of work.

00:34:33.120 | There are tens of millions of women and women out of work.

00:34:35.120 | There are tens of millions of women and women out of work.

00:34:37.120 | There are tens of millions of women and women out of work.

00:34:39.120 | There are tens of millions of women and women out of work.

00:34:41.120 | There are tens of millions of women and women out of work.

00:34:43.120 | There are tens of millions of women and women out of work.

00:34:45.120 | There are tens of millions of women and women out of work.

00:34:47.120 | There are tens of millions of women and women out of work.

00:34:49.120 | There are tens of millions of women and women out of work.

00:34:51.120 | There are tens of millions of women and women out of work.

00:34:53.120 | There are tens of millions of women and women out of work.

00:34:55.120 | There are tens of millions of women and women out of work.

00:34:57.120 | There are tens of millions of women and women out of work.

00:34:59.120 | There are tens of millions of women and women out of work.

00:35:01.120 | There are tens of millions of women and women out of work.

00:35:03.120 | There are tens of millions of women and women out of work.

00:35:05.120 | There are tens of millions of women and women out of work.

00:35:07.120 | There are tens of millions of women and women out of work.

00:35:09.120 | There are tens of millions of women and women out of work.

00:35:11.120 | There are tens of millions of women and women out of work.

00:35:13.120 | There are tens of millions of women and women out of work.

00:35:15.120 | There are tens of millions of women and women out of work.

00:35:17.120 | There are tens of millions of women and women out of work.

00:35:19.120 | There are tens of millions of women and women out of work.

00:35:21.120 | There are tens of millions of women and women out of work.

00:35:23.120 | There are tens of millions of women and women out of work.

00:35:25.120 | There are tens of millions of women and women out of work.

00:35:27.120 | There are tens of millions of women and women out of work.

00:35:29.120 | There are tens of millions of women and women out of work.

00:35:31.120 | There are tens of millions of women and women out of work.

00:35:33.120 | There are tens of millions of women and women out of work.

00:35:35.120 | There are tens of millions of women and women out of work.

00:35:37.120 | There are tens of millions of women and women out of work.

00:35:39.120 | There are tens of millions of women and women out of work.

00:35:41.120 | There are tens of millions of women and women out of work.

00:35:43.120 | There are tens of millions of women and women out of work.

00:35:45.120 | There are tens of millions of women and women out of work.

00:35:47.120 | There are tens of millions of women and women out of work.

00:35:49.120 | There are tens of millions of women and women out of work.

00:35:51.120 | There are tens of millions of women and women out of work.

00:35:53.120 | There are tens of millions of women and women out of work.

00:35:55.120 | There are tens of millions of women and women out of work.

00:35:57.120 | There are tens of millions of women and women out of work.

00:35:59.120 | There are tens of millions of women and women out of work.

00:36:01.120 | There are tens of millions of women and women out of work.

00:36:03.120 | There are tens of millions of women and women out of work.

00:36:05.120 | There are tens of millions of women and women out of work.

00:36:07.120 | There are tens of millions of women and women out of work.

00:36:09.120 | There are tens of millions of women and women out of work.

00:36:11.120 | There are tens of millions of women and women out of work.

00:36:13.120 | There are tens of millions of women and women out of work.

00:36:15.120 | There are tens of millions of women and women out of work.

00:36:17.120 | There are tens of millions of women and women out of work.

00:36:19.120 | There are tens of millions of women and women out of work.

00:36:21.120 | There are tens of millions of women and women out of work.

00:36:23.120 | There are tens of millions of women and women out of work.

00:36:25.120 | There are tens of millions of women and women out of work.

00:36:27.120 | There are tens of millions of women and women out of work.

00:36:29.120 | There are tens of millions of women and women out of work.

00:36:31.120 | There are tens of millions of women and women out of work.

00:36:33.120 | There are tens of millions of women and women out of work.

00:36:35.120 | There are tens of millions of women and women out of work.

00:36:37.120 | There are tens of millions of women and women out of work.

00:36:39.120 | There are tens of millions of women and women out of work.

00:36:41.120 | There are tens of millions of women and women out of work.

00:36:43.120 | There are tens of millions of women and women out of work.

00:36:45.120 | There are tens of millions of women and women out of work.

00:36:47.120 | There are tens of millions of women and women out of work.

00:36:49.120 | There are tens of millions of women and women out of work.

00:36:51.120 | There are tens of millions of women and women out of work.

00:36:53.120 | There are tens of millions of women and women out of work.

00:36:55.120 | There are tens of millions of women and women out of work.

00:36:57.120 | There are tens of millions of women and women out of work.

00:36:59.120 | There are tens of millions of women and women out of work.

00:37:01.120 | There are tens of millions of women and women out of work.

00:37:03.120 | There are tens of millions of women and women out of work.

00:37:05.120 | There are tens of millions of women and women out of work.

00:37:07.120 | There are tens of millions of women and women out of work.

00:37:09.120 | There are tens of millions of women and women out of work.

00:37:11.120 | There are tens of millions of women and women out of work.

00:37:13.120 | There are tens of millions of women and women out of work.

00:37:15.120 | There are tens of millions of women and women out of work.

00:37:17.120 | There are tens of millions of women and women out of work.

00:37:19.120 | There are tens of millions of women and women out of work.

00:37:21.120 | There are tens of millions of women and women out of work.

00:37:23.120 | There are tens of millions of women and women out of work.

00:37:25.120 | There are tens of millions of women and women out of work.

00:37:27.120 | There are tens of millions of women and women out of work.

00:37:29.120 | There are tens of millions of women and women out of work.

00:37:31.120 | There are tens of millions of women and women out of work.

00:37:33.120 | There are tens of millions of women and women out of work.

00:37:35.120 | There are tens of millions of women and women out of work.

00:37:37.120 | There are tens of millions of women and women out of work.

00:37:39.120 | There are tens of millions of women and women out of work.

00:37:41.120 | There are tens of millions of women and women out of work.

00:37:43.120 | There are tens of millions of women and women out of work.

00:37:45.120 | There are tens of millions of women and women out of work.

00:37:47.120 | There are tens of millions of women and women out of work.

00:37:49.120 | There are tens of millions of women and women out of work.

00:37:51.120 | There are tens of millions of women and women out of work.

00:37:53.120 | There are tens of millions of women and women out of work.

00:37:55.120 | There are tens of millions of women and women out of work.

00:37:57.120 | There are tens of millions of women and women out of work.

00:37:59.120 | There are tens of millions of women and women out of work.

00:38:01.120 | There are tens of millions of women and women out of work.

00:38:03.120 | There are tens of millions of women and women out of work.

00:38:05.120 | There are tens of millions of women and women out of work.

00:38:07.120 | There are tens of millions of women and women out of work.

00:38:09.120 | There are tens of millions of women and women out of work.

00:38:11.120 | There are tens of millions of women and women out of work.

00:38:13.120 | There are tens of millions of women and women out of work.

00:38:15.120 | There are tens of millions of women and women out of work.

00:38:17.120 | There are tens of millions of women and women out of work.

00:38:19.120 | There are tens of millions of women and women out of work.

00:38:21.120 | There are tens of millions of women and women out of work.

00:38:23.120 | There are tens of millions of women and women out of work.

00:38:25.120 | There are tens of millions of women and women out of work.

00:38:27.120 | There are tens of millions of women and women out of work.

00:38:29.120 | There are tens of millions of women and women out of work.

00:38:31.120 | There are tens of millions of women and women out of work.

00:38:33.120 | There are tens of millions of women and women out of work.

00:38:35.120 | There are tens of millions of women and women out of work.

00:38:37.120 | There are tens of millions of women and women out of work.

00:38:39.120 | There are tens of millions of women and women out of work.

00:38:41.120 | There are tens of millions of women and women out of work.

00:38:43.120 | There are tens of millions of women and women out of work.

00:38:45.120 | There are tens of millions of women and women out of work.

00:38:47.120 | There are tens of millions of women and women out of work.

00:38:49.120 | There are tens of millions of women and women out of work.

00:38:51.120 | There are tens of millions of women and women out of work.

00:38:53.120 | There are tens of millions of women and women out of work.

00:38:55.120 | There are tens of millions of women and women out of work.

00:38:57.120 | There are tens of millions of women and women out of work.

00:38:59.120 | There are tens of millions of women and women out of work.

00:39:01.120 | There are tens of millions of women and women out of work.

00:39:03.120 | There are tens of millions of women and women out of work.

00:39:05.120 | There are tens of millions of women and women out of work.

00:39:07.120 | There are tens of millions of women and women out of work.

00:39:09.120 | There are tens of millions of women and women out of work.

00:39:11.120 | There are tens of millions of women and women out of work.

00:39:13.120 | There are tens of millions of women and women out of work.

00:39:15.120 | There are tens of millions of women and women out of work.

00:39:17.120 | There are tens of millions of women and women out of work.

00:39:19.120 | There are tens of millions of women and women out of work.

00:39:21.120 | There are tens of millions of women and women out of work.

00:39:23.120 | There are tens of millions of women and women out of work.

00:39:25.120 | There are tens of millions of women and women out of work.

00:39:27.120 | There are tens of millions of women and women out of work.

00:39:29.120 | There are tens of millions of women and women out of work.

00:39:31.120 | There are tens of millions of women and women out of work.

00:39:33.120 | There are tens of millions of women and women out of work.

00:39:35.120 | There are tens of millions of women and women out of work.

00:39:37.120 | There are tens of millions of women and women out of work.

00:39:39.120 | There are tens of millions of women and women out of work.

00:39:41.120 | There are tens of millions of women and women out of work.

00:39:43.120 | There are tens of millions of women and women out of work.

00:39:45.120 | There are tens of millions of women and women out of work.

00:39:47.120 | There are tens of millions of women and women out of work.

00:39:49.120 | There are tens of millions of women and women out of work.

00:39:51.120 | There are tens of millions of women and women out of work.

00:39:53.120 | There are tens of millions of women and women out of work.

00:39:55.120 | There are tens of millions of women and women out of work.

00:39:57.120 | There are tens of millions of women and women out of work.

00:39:59.120 | There are tens of millions of women and women out of work.

00:40:01.120 | There are tens of millions of women and women out of work.

00:40:03.120 | There are tens of millions of women and women out of work.

00:40:05.120 | There are tens of millions of women and women out of work.

00:40:07.120 | There are tens of millions of women and women out of work.

00:40:09.120 | There are tens of millions of women and women out of work.

00:40:11.120 | There are tens of millions of women and women out of work.

00:40:13.120 | There are tens of millions of women and women out of work.

00:40:15.120 | There are tens of millions of women and women out of work.

00:40:17.120 | There are tens of millions of women and women out of work.

00:40:19.120 | There are tens of millions of women and women out of work.

00:40:21.120 | There are tens of millions of women and women out of work.

00:40:23.120 | There are tens of millions of women and women out of work.

00:40:25.120 | There are tens of millions of women and women out of work.

00:40:27.120 | There are tens of millions of women and women out of work.

00:40:29.120 | There are tens of millions of women and women out of work.

00:40:31.120 | There are tens of millions of women and women out of work.

00:40:33.120 | There are tens of millions of women and women out of work.

00:40:35.120 | There are tens of millions of women and women out of work.

00:40:37.120 | There are tens of millions of women and women out of work.

00:40:39.120 | There are tens of millions of women and women out of work.

00:40:41.120 | There are tens of millions of women and women out of work.

00:40:43.120 | There are tens of millions of women and women out of work.

00:40:45.120 | There are tens of millions of women and women out of work.

00:40:47.120 | There are tens of millions of women and women out of work.

00:40:49.120 | There are tens of millions of women and women out of work.

00:40:51.120 | There are tens of millions of women and women out of work.

00:40:53.120 | There are tens of millions of women and women out of work.

00:40:55.120 | There are tens of millions of women and women out of work.

00:40:57.120 | There are tens of millions of women and women out of work.

00:40:59.120 | There are tens of millions of women and women out of work.

00:41:01.120 | There are tens of millions of women and women out of work.

00:41:03.120 | There are tens of millions of women and women out of work.

00:41:05.120 | There are tens of millions of women and women out of work.

00:41:07.120 | There are tens of millions of women and women out of work.

00:41:09.120 | There are tens of millions of women and women out of work.

00:41:11.120 | There are tens of millions of women and women out of work.

00:41:13.120 | There are tens of millions of women and women out of work.

00:41:15.120 | There are tens of millions of women and women out of work.

00:41:17.120 | There are tens of millions of women and women out of work.

00:41:19.120 | There are tens of millions of women and women out of work.

00:41:21.120 | There are tens of millions of women and women out of work.

00:41:23.120 | There are tens of millions of women and women out of work.

00:41:25.120 | There are tens of millions of women and women out of work.

00:41:27.120 | There are tens of millions of women and women out of work.

00:41:29.120 | There are tens of millions of women and women out of work.

00:41:31.120 | There are tens of millions of women and women out of work.

00:41:33.120 | There are tens of millions of women and women out of work.

00:41:35.120 | There are tens of millions of women and women out of work.

00:41:37.120 | There are tens of millions of women and women out of work.

00:41:39.120 | There are tens of millions of women and women out of work.

00:41:41.120 | There are tens of millions of women and women out of work.

00:41:43.120 | There are tens of millions of women and women out of work.

00:41:45.120 | There are tens of millions of women and women out of work.

00:41:47.120 | There are tens of millions of women and women out of work.

00:41:49.120 | There are tens of millions of women and women out of work.

00:41:51.120 | There are tens of millions of women and women out of work.

00:41:53.120 | There are tens of millions of women and women out of work.

00:41:55.120 | There are tens of millions of women and women out of work.

00:41:57.120 | There are tens of millions of women and women out of work.

00:41:59.120 | There are tens of millions of women and women out of work.

00:42:01.120 | There are tens of millions of women and women out of work.

00:42:03.120 | There are tens of millions of women and women out of work.

00:42:05.120 | There are tens of millions of women and women out of work.

00:42:07.120 | There are tens of millions of women and women out of work.

00:42:09.120 | There are tens of millions of women and women out of work.

00:42:11.120 | There are tens of millions of women and women out of work.

00:42:13.120 | There are tens of millions of women and women out of work.

00:42:15.120 | There are tens of millions of women and women out of work.

00:42:17.120 | There are tens of millions of women and women out of work.

00:42:19.120 | There are tens of millions of women and women out of work.

00:42:21.120 | There are tens of millions of women and women out of work.

00:42:23.120 | There are tens of millions of women and women out of work.

00:42:25.120 | There are tens of millions of women and women out of work.

00:42:27.120 | There are tens of millions of women and women out of work.

00:42:29.120 | There are tens of millions of women and women out of work.

00:42:31.120 | There are tens of millions of women and women out of work.

00:42:33.120 | There are tens of millions of women and women out of work.

00:42:35.120 | There are tens of millions of women and women out of work.

00:42:37.120 | There are tens of millions of women and women out of work.

00:42:39.120 | There are tens of millions of women and women out of work.

00:42:41.120 | There are tens of millions of women and women out of work.

00:42:43.120 | There are tens of millions of women and women out of work.

00:42:45.120 | There are tens of millions of women and women out of work.

00:42:47.120 | There are tens of millions of women and women out of work.

00:42:49.120 | There are tens of millions of women and women out of work.

00:42:51.120 | There are tens of millions of women and women out of work.

00:42:53.120 | There are tens of millions of women and women out of work.

00:42:55.120 | There are tens of millions of women and women out of work.

00:42:57.120 | There are tens of millions of women and women out of work.

00:42:59.120 | There are tens of millions of women and women out of work.

00:43:01.120 | There are tens of millions of women and women out of work.

00:43:03.120 | There are tens of millions of women and women out of work.

00:43:05.120 | There are tens of millions of women and women out of work.

00:43:07.120 | There are tens of millions of women and women out of work.

00:43:09.120 | There are tens of millions of women and women out of work.

00:43:11.120 | There are tens of millions of women and women out of work.

00:43:13.120 | There are tens of millions of women and women out of work.

00:43:15.120 | There are tens of millions of women and women out of work.

00:43:17.120 | There are tens of millions of women and women out of work.

00:43:19.120 | There are tens of millions of women and women out of work.

00:43:21.120 | There are tens of millions of women and women out of work.

00:43:23.120 | There are tens of millions of women and women out of work.

00:43:25.120 | There are tens of millions of women and women out of work.

00:43:27.120 | There are tens of millions of women and women out of work.

00:43:29.120 | There are tens of millions of women and women out of work.

00:43:31.120 | There are tens of millions of women and women out of work.

00:43:33.120 | There are tens of millions of women and women out of work.

00:43:35.120 | There are tens of millions of women and women out of work.

00:43:37.120 | There are tens of millions of women and women out of work.

00:43:39.120 | There are tens of millions of women and women out of work.

00:43:41.120 | There are tens of millions of women and women out of work.

00:43:43.120 | There are tens of millions of women and women out of work.

00:43:45.120 | There are tens of millions of women and women out of work.

00:43:47.120 | There are tens of millions of women and women out of work.

00:43:49.120 | There are tens of millions of women and women out of work.

00:43:51.120 | There are tens of millions of women and women out of work.

00:43:53.120 | There are tens of millions of women and women out of work.

00:43:55.120 | There are tens of millions of women and women out of work.

00:43:57.120 | There are tens of millions of women and women out of work.

00:43:59.120 | There are tens of millions of women and women out of work.

00:44:01.120 | There are tens of millions of women and women out of work.

00:44:03.120 | There are tens of millions of women and women out of work.

00:44:05.120 | There are tens of millions of women and women out of work.

00:44:07.120 | There are tens of millions of women and women out of work.

00:44:09.120 | There are tens of millions of women and women out of work.

00:44:11.120 | There are tens of millions of women and women out of work.

00:44:13.120 | There are tens of millions of women and women out of work.

00:44:15.120 | There are tens of millions of women and women out of work.

00:44:17.120 | There are tens of millions of women and women out of work.

00:44:19.120 | There are tens of millions of women and women out of work.

00:44:21.120 | There are tens of millions of women and women out of work.

00:44:23.120 | There are tens of millions of women and women out of work.

00:44:25.120 | There are tens of millions of women and women out of work.

00:44:27.120 | There are tens of millions of women and women out of work.

00:44:29.120 | There are tens of millions of women and women out of work.

00:44:31.120 | There are tens of millions of women and women out of work.

00:44:33.120 | There are tens of millions of women and women out of work.

00:44:35.120 | There are tens of millions of women and women out of work.

00:44:37.120 | There are tens of millions of women and women out of work.

00:44:39.120 | There are tens of millions of women and women out of work.

00:44:41.120 | There are tens of millions of women and women out of work.

00:44:43.120 | There are tens of millions of women and women out of work.

00:44:45.120 | There are tens of millions of women and women out of work.

00:44:47.120 | There are tens of millions of women and women out of work.

00:44:49.120 | There are tens of millions of women and women out of work.

00:44:51.120 | There are tens of millions of women and women out of work.

00:44:53.120 | There are tens of millions of women and women out of work.

00:44:55.120 | There are tens of millions of women and women out of work.

00:44:57.120 | There are tens of millions of women and women out of work.

00:44:59.120 | There are tens of millions of women and women out of work.

00:45:01.120 | There are tens of millions of women and women out of work.

00:45:03.120 | There are tens of millions of women and women out of work.

00:45:05.120 | There are tens of millions of women and women out of work.

00:45:07.120 | There are tens of millions of women and women out of work.

00:45:09.120 | There are tens of millions of women and women out of work.

00:45:11.120 | There are tens of millions of women and women out of work.

00:45:13.120 | There are tens of millions of women and women out of work.

00:45:15.120 | There are tens of millions of women and women out of work.

00:45:17.120 | There are tens of millions of women and women out of work.

00:45:19.120 | There are tens of millions of women and women out of work.

00:45:21.120 | There are tens of millions of women and women out of work.

00:45:23.120 | There are tens of millions of women and women out of work.

00:45:25.120 | There are tens of millions of women and women out of work.

00:45:27.120 | There are tens of millions of women and women out of work.

00:45:29.120 | There are tens of millions of women and women out of work.

00:45:31.120 | There are tens of millions of women and women out of work.

00:45:33.120 | There are tens of millions of women and women out of work.

00:45:35.120 | There are tens of millions of women and women out of work.

00:45:37.120 | There are tens of millions of women and women out of work.

00:45:39.120 | There are tens of millions of women and women out of work.

00:45:41.120 | There are tens of millions of women and women out of work.

00:45:43.120 | There are tens of millions of women and women out of work.

00:45:45.120 | There are tens of millions of women and women out of work.

00:45:47.120 | There are tens of millions of women and women out of work.

00:45:49.120 | There are tens of millions of women and women out of work.

00:45:51.120 | There are tens of millions of women and women out of work.

00:45:53.120 | There are tens of millions of women and women out of work.

00:45:55.120 | There are tens of millions of women and women out of work.

00:45:57.120 | There are tens of millions of women and women out of work.

00:45:59.120 | There are tens of millions of women and women out of work.

00:46:01.120 | There are tens of millions of women and women out of work.

00:46:03.120 | There are tens of millions of women and women out of work.

00:46:05.120 | There are tens of millions of women and women out of work.

00:46:07.120 | There are tens of millions of women and women out of work.

00:46:09.120 | There are tens of millions of women and women out of work.

00:46:11.120 | There are tens of millions of women and women out of work.

00:46:13.120 | There are tens of millions of women and women out of work.

00:46:15.120 | There are tens of millions of women and women out of work.

00:46:17.120 | There are tens of millions of women and women out of work.

00:46:19.120 | There are tens of millions of women and women out of work.

00:46:21.120 | There are tens of millions of women and women out of work.

00:46:23.120 | There are tens of millions of women and women out of work.

00:46:25.120 | There are tens of millions of women and women out of work.

00:46:27.120 | There are tens of millions of women and women out of work.

00:46:29.120 | There are tens of millions of women and women out of work.

00:46:31.120 | There are tens of millions of women and women out of work.

00:46:33.120 | There are tens of millions of women and women out of work.

00:46:35.120 | There are tens of millions of women and women out of work.

00:46:37.120 | There are tens of millions of women and women out of work.

00:46:39.120 | There are tens of millions of women and women out of work.

00:46:41.120 | There are tens of millions of women and women out of work.

00:46:43.120 | There are tens of millions of women and women out of work.

00:46:45.120 | There are tens of millions of women and women out of work.

00:46:47.120 | There are tens of millions of women and women out of work.

00:46:49.120 | There are tens of millions of women and women out of work.

00:46:51.120 | There are tens of millions of women and women out of work.

00:46:53.120 | There are tens of millions of women and women out of work.

00:46:55.120 | There are tens of millions of women and women out of work.

00:46:57.120 | There are tens of millions of women and women out of work.

00:46:59.120 | There are tens of millions of women and women out of work.

00:47:01.120 | There are tens of millions of women and women out of work.

00:47:03.120 | There are tens of millions of women and women out of work.

00:47:05.120 | There are tens of millions of women and women out of work.

00:47:07.120 | There are tens of millions of women and women out of work.

00:47:09.120 | There are tens of millions of women and women out of work.

00:47:11.120 | There are tens of millions of women and women out of work.

00:47:13.120 | There are tens of millions of women and women out of work.

00:47:15.120 | There are tens of millions of women and women out of work.

00:47:17.120 | There are tens of millions of women and women out of work.

00:47:19.120 | There are tens of millions of women and women out of work.

00:47:21.120 | There are tens of millions of women and women out of work.

00:47:23.120 | There are tens of millions of women and women out of work.

00:47:25.120 | There are tens of millions of women and women out of work.

00:47:27.120 | There are tens of millions of women and women out of work.

00:47:29.120 | There are tens of millions of women and women out of work.

00:47:31.120 | There are tens of millions of women and women out of work.

00:47:33.120 | There are tens of millions of women and women out of work.

00:47:35.120 | There are tens of millions of women and women out of work.

00:47:37.120 | There are tens of millions of women and women out of work.

00:47:39.120 | There are tens of millions of women and women out of work.

00:47:41.120 | There are tens of millions of women and women out of work.

00:47:43.120 | There are tens of millions of women and women out of work.

00:47:45.120 | There are tens of millions of women and women out of work.

00:47:47.120 | There are tens of millions of women and women out of work.

00:47:49.120 | There are tens of millions of women and women out of work.

00:47:51.120 | There are tens of millions of women and women out of work.

00:47:53.120 | There are tens of millions of women and women out of work.

00:47:55.120 | There are tens of millions of women and women out of work.

00:47:57.120 | There are tens of millions of women and women out of work.

00:47:59.120 | There are tens of millions of women and women out of work.

00:48:01.120 | There are tens of millions of women and women out of work.

00:48:03.120 | There are tens of millions of women and women out of work.

00:48:05.120 | There are tens of millions of women and women out of work.

00:48:07.120 | There are tens of millions of women and women out of work.

00:48:09.120 | There are tens of millions of women and women out of work.

00:48:11.120 | There are tens of millions of women and women out of work.

00:48:13.120 | There are tens of millions of women and women out of work.

00:48:15.120 | There are tens of millions of women and women out of work.

00:48:17.120 | There are tens of millions of women and women out of work.

00:48:19.120 | There are tens of millions of women and women out of work.

00:48:21.120 | There are tens of millions of women and women out of work.

00:48:23.120 | There are tens of millions of women and women out of work.

00:48:25.120 | There are tens of millions of women and women out of work.

00:48:27.120 | There are tens of millions of women and women out of work.

00:48:29.120 | There are tens of millions of women and women out of work.

00:48:31.120 | There are tens of millions of women and women out of work.

00:48:33.120 | There are tens of millions of women and women out of work.

00:48:35.120 | There are tens of millions of women and women out of work.

00:48:37.120 | There are tens of millions of women and women out of work.

00:48:39.120 | There are tens of millions of women and women out of work.

00:48:41.120 | There are tens of millions of women and women out of work.

00:48:43.120 | There are tens of millions of women and women out of work.

00:48:45.120 | There are tens of millions of women and women out of work.

00:48:47.120 | There are tens of millions of women and women out of work.

00:48:49.120 | There are tens of millions of women and women out of work.

00:48:51.120 | There are tens of millions of women and women out of work.

00:48:53.120 | There are tens of millions of women and women out of work.

00:48:55.120 | There are tens of millions of women and women out of work.

00:48:57.120 | There are tens of millions of women and women out of work.

00:48:59.120 | There are tens of millions of women and women out of work.

00:49:01.120 | There are tens of millions of women and women out of work.

00:49:03.120 | There are tens of millions of women and women out of work.

00:49:05.120 | There are tens of millions of women and women out of work.

00:49:07.120 | There are tens of millions of women and women out of work.

00:49:09.120 | There are tens of millions of women and women out of work.

00:49:11.120 | There are tens of millions of women and women out of work.

00:49:13.120 | There are tens of millions of women and women out of work.

00:49:15.120 | There are tens of millions of women and women out of work.

00:49:17.120 | There are tens of millions of women and women out of work.

00:49:19.120 | There are tens of millions of women and women out of work.

00:49:21.120 | There are tens of millions of women and women out of work.

00:49:23.120 | There are tens of millions of women and women out of work.

00:49:25.120 | There are tens of millions of women and women out of work.

00:49:27.120 | There are tens of millions of women and women out of work.

00:49:29.120 | There are tens of millions of women and women out of work.

00:49:31.120 | There are tens of millions of women and women out of work.

00:49:33.120 | There are tens of millions of women and women out of work.

00:49:35.120 | There are tens of millions of women and women out of work.

00:49:37.120 | There are tens of millions of women and women out of work.

00:49:39.120 | There are tens of millions of women and women out of work.

00:49:41.120 | There are tens of millions of women and women out of work.

00:49:43.120 | There are tens of millions of women and women out of work.

00:49:45.120 | There are tens of millions of women and women out of work.

00:49:47.120 | There are tens of millions of women and women out of work.

00:49:49.120 | There are tens of millions of women and women out of work.

00:49:51.120 | There are tens of millions of women and women out of work.

00:49:53.120 | There are tens of millions of women and women out of work.

00:49:55.120 | There are tens of millions of women and women out of work.

00:49:57.120 | There are tens of millions of women and women out of work.

00:49:59.120 | There are tens of millions of women and women out of work.

00:50:01.120 | There are tens of millions of women and women out of work.

00:50:03.120 | There are tens of millions of women and women out of work.

00:50:05.120 | There are tens of millions of women and women out of work.

00:50:07.120 | There are tens of millions of women and women out of work.

00:50:09.120 | There are tens of millions of women and women out of work.

00:50:11.120 | There are tens of millions of women and women out of work.

00:50:13.120 | There are tens of millions of women and women out of work.

00:50:15.120 | There are tens of millions of women and women out of work.

00:50:17.120 | There are tens of millions of women and women out of work.

00:50:19.120 | There are tens of millions of women and women out of work.

00:50:21.120 | There are tens of millions of women and women out of work.

00:50:23.120 | There are tens of millions of women and women out of work.

00:50:25.120 | There are tens of millions of women and women out of work.

00:50:27.120 | There are tens of millions of women and women out of work.

00:50:29.120 | There are tens of millions of women and women out of work.

00:50:31.120 | There are tens of millions of women and women out of work.

00:50:33.120 | There are tens of millions of women and women out of work.

00:50:35.120 | There are tens of millions of women and women out of work.

00:50:37.120 | There are tens of millions of women and women out of work.

00:50:39.120 | There are tens of millions of women and women out of work.

00:50:41.120 | There are tens of millions of women and women out of work.

00:50:43.120 | There are tens of millions of women and women out of work.

00:50:45.120 | There are tens of millions of women and women out of work.

00:50:47.120 | There are tens of millions of women and women out of work.

00:50:49.120 | There are tens of millions of women and women out of work.

00:50:51.120 | There are tens of millions of women and women out of work.

00:50:53.120 | There are tens of millions of women and women out of work.

00:50:55.120 | There are tens of millions of women and women out of work.

00:50:57.120 | There are tens of millions of women and women out of work.

00:50:59.120 | There are tens of millions of women and women out of work.

00:51:01.120 | There are tens of millions of women and women out of work.

00:51:03.120 | There are tens of millions of women and women out of work.

00:51:05.120 | There are tens of millions of women and women out of work.

00:51:07.120 | There are tens of millions of women and women out of work.

00:51:09.120 | There are tens of millions of women and women out of work.

00:51:11.120 | There are tens of millions of women and women out of work.

00:51:13.120 | There are tens of millions of women and women out of work.

00:51:15.120 | There are tens of millions of women and women out of work.

00:51:17.120 | There are tens of millions of women and women out of work.

00:51:19.120 | There are tens of millions of women and women out of work.

00:51:21.120 | There are tens of millions of women and women out of work.

00:51:23.120 | There are tens of millions of women and women out of work.

00:51:25.120 | There are tens of millions of women and women out of work.

00:51:27.120 | There are tens of millions of women and women out of work.

00:51:29.120 | There are tens of millions of women and women out of work.

00:51:31.120 | There are tens of millions of women and women out of work.

00:51:33.120 | There are tens of millions of women and women out of work.

00:51:35.120 | There are tens of millions of women and women out of work.

00:51:37.120 | There are tens of millions of women and women out of work.

00:51:39.120 | There are tens of millions of women and women out of work.

00:51:41.120 | There are tens of millions of women and women out of work.

00:51:43.120 | There are tens of millions of women and women out of work.

00:51:45.120 | There are tens of millions of women and women out of work.

00:51:47.120 | There are tens of millions of women and women out of work.

00:51:49.120 | There are tens of millions of women and women out of work.

00:51:51.120 | There are tens of millions of women and women out of work.

00:51:53.120 | There are tens of millions of women and women out of work.

00:51:55.120 | There are tens of millions of women and women out of work.

00:51:57.120 | There are tens of millions of women and women out of work.

00:51:59.120 | There are tens of millions of women and women out of work.

00:52:01.120 | There are tens of millions of women and women out of work.

00:52:03.120 | There are tens of millions of women and women out of work.

00:52:05.120 | There are tens of millions of women and women out of work.

00:52:07.120 | There are tens of millions of women and women out of work.

00:52:09.120 | There are tens of millions of women and women out of work.

00:52:11.120 | There are tens of millions of women and women out of work.

00:52:13.120 | There are tens of millions of women and women out of work.

00:52:15.120 | There are tens of millions of women and women out of work.

00:52:17.120 | There are tens of millions of women and women out of work.

00:52:19.120 | There are tens of millions of women and women out of work.

00:52:21.120 | There are tens of millions of women and women out of work.

00:52:23.120 | There are tens of millions of women and women out of work.

00:52:25.120 | There are tens of millions of women and women out of work.

00:52:27.120 | There are tens of millions of women and women out of work.

00:52:29.120 | There are tens of millions of women and women out of work.

00:52:31.120 | There are tens of millions of women and women out of work.

00:52:33.120 | There are tens of millions of women and women out of work.

00:52:35.120 | There are tens of millions of women and women out of work.

00:52:37.120 | There are tens of millions of women and women out of work.

00:52:39.120 | There are tens of millions of women and women out of work.

00:52:41.120 | There are tens of millions of women and women out of work.

00:52:43.120 | There are tens of millions of women and women out of work.

00:52:45.120 | There are tens of millions of women and women out of work.

00:52:47.120 | There are tens of millions of women and women out of work.

00:52:49.120 | There are tens of millions of women and women out of work.

00:52:51.120 | There are tens of millions of women and women out of work.

00:52:53.120 | There are tens of millions of women and women out of work.

00:52:55.120 | There are tens of millions of women and women out of work.

00:52:57.120 | There are tens of millions of women and women out of work.

00:52:59.120 | There are tens of millions of women and women out of work.

00:53:01.120 | There are tens of millions of women and women out of work.

00:53:03.120 | There are tens of millions of women and women out of work.

00:53:05.120 | There are tens of millions of women and women out of work.

00:53:07.120 | There are tens of millions of women and women out of work.

00:53:09.120 | There are tens of millions of women and women out of work.

00:53:11.120 | There are tens of millions of women and women out of work.

00:53:13.120 | There are tens of millions of women and women out of work.

00:53:15.120 | There are tens of millions of women and women out of work.

00:53:17.120 | There are tens of millions of women and women out of work.

00:53:19.120 | There are tens of millions of women and women out of work.

00:53:21.120 | There are tens of millions of women and women out of work.

00:53:23.120 | There are tens of millions of women and women out of work.

00:53:25.120 | There are tens of millions of women and women out of work.

00:53:27.120 | There are tens of millions of women and women out of work.

00:53:29.120 | There are tens of millions of women and women out of work.

00:53:31.120 | There are tens of millions of women and women out of work.

00:53:33.120 | There are tens of millions of women and women out of work.

00:53:35.120 | There are tens of millions of women and women out of work.

00:53:37.120 | There are tens of millions of women and women out of work.

00:53:39.120 | There are tens of millions of women and women out of work.

00:53:41.120 | There are tens of millions of women and women out of work.

00:53:43.120 | There are tens of millions of women and women out of work.

00:53:45.120 | There are tens of millions of women and women out of work.

00:53:47.120 | There are tens of millions of women and women out of work.

00:53:49.120 | There are tens of millions of women and women out of work.

00:53:51.120 | There are tens of millions of women and women out of work.

00:53:53.120 | There are tens of millions of women and women out of work.

00:53:55.120 | There are tens of millions of women and women out of work.

00:53:57.120 | There are tens of millions of women and women out of work.

00:53:59.120 | There are tens of millions of women and women out of work.

00:54:01.120 | There are tens of millions of women and women out of work.

00:54:03.120 | There are tens of millions of women and women out of work.

00:54:05.120 | There are tens of millions of women and women out of work.

00:54:07.120 | There are tens of millions of women and women out of work.

00:54:09.120 | There are tens of millions of women and women out of work.

00:54:11.120 | There are tens of millions of women and women out of work.

00:54:13.120 | There are tens of millions of women and women out of work.

00:54:15.120 | There are tens of millions of women and women out of work.

00:54:17.120 | There are tens of millions of women and women out of work.

00:54:19.120 | There are tens of millions of women and women out of work.

00:54:21.120 | There are tens of millions of women and women out of work.

00:54:23.120 | There are tens of millions of women and women out of work.

00:54:25.120 | There are tens of millions of women and women out of work.

00:54:27.120 | There are tens of millions of women and women out of work.

00:54:29.120 | There are tens of millions of women and women out of work.

00:54:31.120 | There are tens of millions of women and women out of work.

00:54:33.120 | There are tens of millions of women and women out of work.

00:54:35.120 | There are tens of millions of women and women out of work.

00:54:37.120 | There are tens of millions of women and women out of work.

00:54:39.120 | There are tens of millions of women and women out of work.

00:54:41.120 | There are tens of millions of women and women out of work.

00:54:43.120 | There are tens of millions of women and women out of work.

00:54:45.120 | There are tens of millions of women and women out of work.

00:54:47.120 | There are tens of millions of women and women out of work.

00:54:49.120 | There are tens of millions of women and women out of work.

00:54:51.120 | There are tens of millions of women and women out of work.

00:54:53.120 | There are tens of millions of women and women out of work.

00:54:55.120 | There are tens of millions of women and women out of work.

00:54:57.120 | There are tens of millions of women and women out of work.

00:54:59.120 | There are tens of millions of women and women out of work.

00:55:01.120 | There are tens of millions of women and women out of work.

00:55:03.120 | There are tens of millions of women and women out of work.

00:55:05.120 | There are tens of millions of women and women out of work.

00:55:07.120 | There are tens of millions of women and women out of work.

00:55:09.120 | There are tens of millions of women and women out of work.

00:55:11.120 | There are tens of millions of women and women out of work.

00:55:13.120 | There are tens of millions of women and women out of work.

00:55:15.120 | There are tens of millions of women and women out of work.

00:55:17.120 | There are tens of millions of women and women out of work.

00:55:19.120 | There are tens of millions of women and women out of work.

00:55:21.120 | There are tens of millions of women and women out of work.

00:55:23.120 | There are tens of millions of women and women out of work.

00:55:25.120 | There are tens of millions of women and women out of work.

00:55:27.120 | There are tens of millions of women and women out of work.

00:55:29.120 | There are tens of millions of women and women out of work.

00:55:31.120 | There are tens of millions of women and women out of work.

00:55:33.120 | There are tens of millions of women and women out of work.

00:55:35.120 | There are tens of millions of women and women out of work.

00:55:37.120 | There are tens of millions of women and women out of work.

00:55:39.120 | There are tens of millions of women and women out of work.

00:55:41.120 | There are tens of millions of women and women out of work.

00:55:43.120 | There are tens of millions of women and women out of work.

00:55:45.120 | There are tens of millions of women and women out of work.

00:55:47.120 | There are tens of millions of women and women out of work.

00:55:49.120 | There are tens of millions of women and women out of work.

00:55:51.120 | There are tens of millions of women and women out of work.

00:55:53.120 | There are tens of millions of women and women out of work.

00:55:55.120 | There are tens of millions of women and women out of work.

00:55:57.120 | There are tens of millions of women and women out of work.

00:55:59.120 | There are tens of millions of women and women out of work.

00:56:01.120 | There are tens of millions of women and women out of work.

00:56:03.120 | There are tens of millions of women and women out of work.

00:56:05.120 | There are tens of millions of women and women out of work.

00:56:07.120 | There are tens of millions of women and women out of work.

00:56:09.120 | There are tens of millions of women and women out of work.

00:56:11.120 | There are tens of millions of women and women out of work.

00:56:13.120 | There are tens of millions of women and women out of work.

00:56:15.120 | There are tens of millions of women and women out of work.

00:56:17.120 | There are tens of millions of women and women out of work.

00:56:19.120 | There are tens of millions of women and women out of work.

00:56:21.120 | There are tens of millions of women and women out of work.

00:56:23.120 | There are tens of millions of women and women out of work.

00:56:25.120 | There are tens of millions of women and women out of work.

00:56:27.120 | There are tens of millions of women and women out of work.

00:56:29.120 | There are tens of millions of women and women out of work.

00:56:31.120 | There are tens of millions of women and women out of work.

00:56:33.120 | There are tens of millions of women and women out of work.

00:56:35.120 | There are tens of millions of women and women out of work.

00:56:37.120 | There are tens of millions of women and women out of work.

00:56:39.120 | There are tens of millions of women and women out of work.

00:56:41.120 | There are tens of millions of women and women out of work.

00:56:43.120 | There are tens of millions of women and women out of work.

00:56:45.120 | There are tens of millions of women and women out of work.

00:56:47.120 | There are tens of millions of women and women out of work.

00:56:49.120 | There are tens of millions of women and women out of work.

00:56:51.120 | There are tens of millions of women and women out of work.

00:56:53.120 | There are tens of millions of women and women out of work.

00:56:55.120 | There are tens of millions of women and women out of work.

00:56:57.120 | There are tens of millions of women and women out of work.

00:56:59.120 | There are tens of millions of women and women out of work.

00:57:01.120 | There are tens of millions of women and women out of work.

00:57:03.120 | There are tens of millions of women and women out of work.

00:57:05.120 | There are tens of millions of women and women out of work.

00:57:07.120 | There are tens of millions of women and women out of work.

00:57:09.120 | There are tens of millions of women and women out of work.

00:57:11.120 | There are tens of millions of women and women out of work.

00:57:13.120 | There are tens of millions of women and women out of work.

00:57:15.120 | There are tens of millions of women and women out of work.

00:57:17.120 | There are tens of millions of women and women out of work.

00:57:19.120 | There are tens of millions of women and women out of work.

00:57:21.120 | There are tens of millions of women and women out of work.

00:57:23.120 | There are tens of millions of women and women out of work.

00:57:25.120 | There are tens of millions of women and women out of work.

00:57:27.120 | There are tens of millions of women and women out of work.

00:57:29.120 | There are tens of millions of women and women out of work.

00:57:31.120 | There are tens of millions of women and women out of work.

00:57:33.120 | There are tens of millions of women and women out of work.

00:57:35.120 | There are tens of millions of women and women out of work.

00:57:37.120 | There are tens of millions of women and women out of work.

00:57:39.120 | There are tens of millions of women and women out of work.

00:57:41.120 | There are tens of millions of women and women out of work.

00:57:43.120 | There are tens of millions of women and women out of work.

00:57:45.120 | There are tens of millions of women and women out of work.

00:57:47.120 | There are tens of millions of women and women out of work.

00:57:49.120 | There are tens of millions of women and women out of work.

00:57:51.120 | There are tens of millions of women and women out of work.

00:57:53.120 | There are tens of millions of women and women out of work.

00:57:55.120 | There are tens of millions of women and women out of work.

00:57:57.120 | There are tens of millions of women and women out of work.

00:57:59.120 | There are tens of millions of women and women out of work.

00:58:01.120 | There are tens of millions of women and women out of work.

00:58:03.120 | There are tens of millions of women and women out of work.

00:58:05.120 | There are tens of millions of women and women out of work.

00:58:07.120 | There are tens of millions of women and women out of work.

00:58:09.120 | There are tens of millions of women and women out of work.

00:58:11.120 | There are tens of millions of women and women out of work.

00:58:13.120 | There are tens of millions of women and women out of work.

00:58:15.120 | There are tens of millions of women and women out of work.

00:58:17.120 | There are tens of millions of women and women out of work.

00:58:19.120 | There are tens of millions of women and women out of work.

00:58:21.120 | There are tens of millions of women and women out of work.

00:58:23.120 | There are tens of millions of women and women out of work.

00:58:25.120 | There are tens of millions of women and women out of work.

00:58:27.120 | There are tens of millions of women and women out of work.

00:58:29.120 | There are tens of millions of women and women out of work.

00:58:31.120 | There are tens of millions of women and women out of work.

00:58:33.120 | There are tens of millions of women and women out of work.

00:58:35.120 | There are tens of millions of women and women out of work.

00:58:37.120 | There are tens of millions of women and women out of work.

00:58:39.120 | There are tens of millions of women and women out of work.

00:58:41.120 | There are tens of millions of women and women out of work.

00:58:43.120 | There are tens of millions of women and women out of work.

00:58:45.120 | There are tens of millions of women and women out of work.

00:58:47.120 | There are tens of millions of women and women out of work.

00:58:49.120 | There are tens of millions of women and women out of work.

00:58:51.120 | There are tens of millions of women and women out of work.

00:58:53.120 | There are tens of millions of women and women out of work.

00:58:55.120 | There are tens of millions of women and women out of work.

00:58:57.120 | There are tens of millions of women and women out of work.

00:58:59.120 | There are tens of millions of women and women out of work.

00:59:01.120 | There are tens of millions of women and women out of work.

00:59:03.120 | There are tens of millions of women and women out of work.

00:59:05.120 | There are tens of millions of women and women out of work.

00:59:07.120 | There are tens of millions of women and women out of work.

00:59:09.120 | There are tens of millions of women and women out of work.

00:59:11.120 | There are tens of millions of women and women out of work.

00:59:13.120 | There are tens of millions of women and women out of work.

00:59:15.120 | There are tens of millions of women and women out of work.

00:59:17.120 | There are tens of millions of women and women out of work.

00:59:19.120 | There are tens of millions of women and women out of work.

00:59:21.120 | There are tens of millions of women and women out of work.

00:59:23.120 | There are tens of millions of women and women out of work.

00:59:25.120 | There are tens of millions of women and women out of work.

00:59:27.120 | There are tens of millions of women and women out of work.

00:59:29.120 | There are tens of millions of women and women out of work.

00:59:31.120 | There are tens of millions of women and women out of work.

00:59:33.120 | There are tens of millions of women and women out of work.

00:59:35.120 | There are tens of millions of women and women out of work.

00:59:37.120 | There are tens of millions of women and women out of work.

00:59:39.120 | There are tens of millions of women and women out of work.

00:59:41.120 | There are tens of millions of women and women out of work.

00:59:43.120 | There are tens of millions of women and women out of work.

00:59:45.120 | There are tens of millions of women and women out of work.

00:59:47.120 | There are tens of millions of women and women out of work.

00:59:49.120 | There are tens of millions of women and women out of work.

00:59:51.120 | There are tens of millions of women and women out of work.

00:59:53.120 | There are tens of millions of women and women out of work.

00:59:55.120 | There are tens of millions of women and women out of work.

00:59:57.120 | There are tens of millions of women and women out of work.

00:59:59.120 | There are tens of millions of women and women out of work.

01:00:01.120 | There are tens of millions of women and women out of work.

01:00:03.120 | There are tens of millions of women and women out of work.

01:00:05.120 | There are tens of millions of women and women out of work.

01:00:07.120 | There are tens of millions of women and women out of work.

01:00:09.120 | There are tens of millions of women and women out of work.

01:00:11.120 | There are tens of millions of women and women out of work.

01:00:13.120 | There are tens of millions of women and women out of work.

01:00:15.120 | There are tens of millions of women and women out of work.

01:00:17.120 | There are tens of millions of women and women out of work.

01:00:19.120 | There are tens of millions of women and women out of work.

01:00:21.120 | There are tens of millions of women and women out of work.

01:00:23.120 | There are tens of millions of women and women out of work.

01:00:25.120 | There are tens of millions of women and women out of work.

01:00:27.120 | There are tens of millions of women and women out of work.

01:00:29.120 | There are tens of millions of women and women out of work.

01:00:31.120 | There are tens of millions of women and women out of work.

01:00:33.120 | There are tens of millions of women and women out of work.

01:00:35.120 | There are tens of millions of women and women out of work.

01:00:37.120 | There are tens of millions of women and women out of work.

01:00:39.120 | There are tens of millions of women and women out of work.

01:00:41.120 | There are tens of millions of women and women out of work.

01:00:43.120 | There are tens of millions of women and women out of work.

01:00:45.120 | There are tens of millions of women and women out of work.

01:00:47.120 | There are tens of millions of women and women out of work.

01:00:49.120 | There are tens of millions of women and women out of work.

01:00:51.120 | There are tens of millions of women and women out of work.

01:00:53.120 | There are tens of millions of women and women out of work.

01:00:55.120 | There are tens of millions of women and women out of work.

01:00:57.120 | There are tens of millions of women and women out of work.

01:00:59.120 | There are tens of millions of women and women out of work.

01:01:01.120 | There are tens of millions of women and women out of work.

01:01:03.120 | There are tens of millions of women and women out of work.

01:01:05.120 | There are tens of millions of women and women out of work.

01:01:07.120 | There are tens of millions of women and women out of work.

01:01:09.120 | There are tens of millions of women and women out of work.

01:01:11.120 | There are tens of millions of women and women out of work.

01:01:13.120 | There are tens of millions of women and women out of work.

01:01:15.120 | There are tens of millions of women and women out of work.

01:01:17.120 | There are tens of millions of women and women out of work.

01:01:19.120 | There are tens of millions of women and women out of work.

01:01:21.120 | There are tens of millions of women and women out of work.

01:01:23.120 | There are tens of millions of women and women out of work.

01:01:25.120 | There are tens of millions of women and women out of work.

01:01:27.120 | There are tens of millions of women and women out of work.

01:01:29.120 | There are tens of millions of women and women out of work.

01:01:31.120 | There are tens of millions of women and women out of work.

01:01:33.120 | There are tens of millions of women and women out of work.

01:01:35.120 | There are tens of millions of women and women out of work.

01:01:37.120 | There are tens of millions of women and women out of work.

01:01:39.120 | There are tens of millions of women and women out of work.

01:01:41.120 | There are tens of millions of women and women out of work.

01:01:43.120 | There are tens of millions of women and women out of work.

01:01:45.120 | There are tens of millions of women and women out of work.

01:01:47.120 | There are tens of millions of women and women out of work.

01:01:49.120 | There are tens of millions of women and women out of work.

01:01:51.120 | There are tens of millions of women and women out of work.

01:01:53.120 | There are tens of millions of women and women out of work.

01:01:55.120 | There are tens of millions of women and women out of work.

01:01:57.120 | There are tens of millions of women and women out of work.

01:01:59.120 | There are tens of millions of women and women out of work.

01:02:01.120 | There are tens of millions of women and women out of work.

01:02:03.120 | There are tens of millions of women and women out of work.

01:02:05.120 | There are tens of millions of women and women out of work.

01:02:07.120 | There are tens of millions of women and women out of work.

01:02:09.120 | There are tens of millions of women and women out of work.

01:02:11.120 | There are tens of millions of women and women out of work.

01:02:13.120 | There are tens of millions of women and women out of work.

01:02:15.120 | There are tens of millions of women and women out of work.

01:02:17.120 | There are tens of millions of women and women out of work.

01:02:19.120 | There are tens of millions of women and women out of work.

01:02:21.120 | There are tens of millions of women and women out of work.

01:02:23.120 | There are tens of millions of women and women out of work.

01:02:25.120 | There are tens of millions of women and women out of work.

01:02:27.120 | There are tens of millions of women and women out of work.

01:02:29.120 | There are tens of millions of women and women out of work.

01:02:31.120 | There are tens of millions of women and women out of work.

01:02:33.120 | There are tens of millions of women and women out of work.

01:02:35.120 | There are tens of millions of women and women out of work.

01:02:37.120 | There are tens of millions of women and women out of work.

01:02:39.120 | There are tens of millions of women and women out of work.

01:02:41.120 | There are tens of millions of women and women out of work.

01:02:43.120 | There are tens of millions of women and women out of work.

01:02:45.120 | There are tens of millions of women and women out of work.

01:02:47.120 | There are tens of millions of women and women out of work.

01:02:49.120 | There are tens of millions of women and women out of work.

01:02:51.120 | There are tens of millions of women and women out of work.

01:02:53.120 | There are tens of millions of women and women out of work.

01:02:55.120 | There are tens of millions of women and women out of work.

01:02:57.120 | There are tens of millions of women and women out of work.

01:02:59.120 | There are tens of millions of women and women out of work.

01:03:01.120 | There are tens of millions of women and women out of work.

01:03:03.120 | There are tens of millions of women and women out of work.

01:03:05.120 | There are tens of millions of women and women out of work.

01:03:07.120 | There are tens of millions of women and women out of work.

01:03:09.120 | There are tens of millions of women and women out of work.

01:03:11.120 | There are tens of millions of women and women out of work.

01:03:13.120 | There are tens of millions of women and women out of work.

01:03:15.120 | There are tens of millions of women and women out of work.

01:03:17.120 | There are tens of millions of women and women out of work.

01:03:19.120 | There are tens of millions of women and women out of work.

01:03:21.120 | There are tens of millions of women and women out of work.

01:03:23.120 | There are tens of millions of women and women out of work.

01:03:25.120 | There are tens of millions of women and women out of work.

01:03:27.120 | There are tens of millions of women and women out of work.

01:03:29.120 | There are tens of millions of women and women out of work.

01:03:31.120 | There are tens of millions of women and women out of work.

01:03:33.120 | There are tens of millions of women and women out of work.

01:03:35.120 | There are tens of millions of women and women out of work.

01:03:37.120 | There are tens of millions of women and women out of work.

01:03:39.120 | There are tens of millions of women and women out of work.

01:03:41.120 | There are tens of millions of women and women out of work.

01:03:43.120 | There are tens of millions of women and women out of work.

01:03:45.120 | There are tens of millions of women and women out of work.

01:03:47.120 | There are tens of millions of women and women out of work.

01:03:49.120 | There are tens of millions of women and women out of work.

01:03:51.120 | There are tens of millions of women and women out of work.

01:03:53.120 | There are tens of millions of women and women out of work.

01:03:55.120 | There are tens of millions of women and women out of work.

01:03:57.120 | There are tens of millions of women and women out of work.

01:03:59.120 | There are tens of millions of women and women out of work.

01:04:01.120 | There are tens of millions of women and women out of work.

01:04:03.120 | There are tens of millions of women and women out of work.

01:04:05.120 | There are tens of millions of women and women out of work.

01:04:07.120 | There are tens of millions of women and women out of work.

01:04:09.120 | There are tens of millions of women and women out of work.

01:04:11.120 | There are tens of millions of women and women out of work.

01:04:13.120 | There are tens of millions of women and women out of work.

01:04:15.120 | There are tens of millions of women and women out of work.

01:04:17.120 | There are tens of millions of women and women out of work.

01:04:19.120 | There are tens of millions of women and women out of work.

01:04:21.120 | There are tens of millions of women and women out of work.

01:04:23.120 | There are tens of millions of women and women out of work.

01:04:25.120 | There are tens of millions of women and women out of work.

01:04:27.120 | There are tens of millions of women and women out of work.

01:04:29.120 | There are tens of millions of women and women out of work.

01:04:31.120 | There are tens of millions of women and women out of work.

01:04:33.120 | There are tens of millions of women and women out of work.

01:04:35.120 | There are tens of millions of women and women out of work.

01:04:37.120 | There are tens of millions of women and women out of work.

01:04:39.120 | There are tens of millions of women and women out of work.

01:04:41.120 | There are tens of millions of women and women out of work.

01:04:43.120 | There are tens of millions of women and women out of work.

01:04:45.120 | There are tens of millions of women and women out of work.

01:04:47.120 | There are tens of millions of women and women out of work.

01:04:49.120 | There are tens of millions of women and women out of work.

01:04:51.120 | There are tens of millions of women and women out of work.

01:04:53.120 | There are tens of millions of women and women out of work.

01:04:55.120 | There are tens of millions of women and women out of work.

01:04:57.120 | There are tens of millions of women and women out of work.

01:04:59.120 | There are tens of millions of women and women out of work.

01:05:01.120 | There are tens of millions of women and women out of work.

01:05:03.120 | There are tens of millions of women and women out of work.

01:05:05.120 | There are tens of millions of women and women out of work.

01:05:07.120 | There are tens of millions of women and women out of work.

01:05:09.120 | There are tens of millions of women and women out of work.

01:05:11.120 | There are tens of millions of women and women out of work.

01:05:13.120 | There are tens of millions of women and women out of work.

01:05:15.120 | There are tens of millions of women and women out of work.

01:05:17.120 | There are tens of millions of women and women out of work.

01:05:19.120 | There are tens of millions of women and women out of work.

01:05:21.120 | There are tens of millions of women and women out of work.

01:05:23.120 | There are tens of millions of women and women out of work.

01:05:25.120 | There are tens of millions of women and women out of work.

01:05:27.120 | There are tens of millions of women and women out of work.

01:05:29.120 | There are tens of millions of women and women out of work.

01:05:31.120 | There are tens of millions of women and women out of work.

01:05:33.120 | There are tens of millions of women and women out of work.

01:05:35.120 | There are tens of millions of women and women out of work.

01:05:37.120 | There are tens of millions of women and women out of work.

01:05:39.120 | There are tens of millions of women and women out of work.

01:05:41.120 | There are tens of millions of women and women out of work.

01:05:43.120 | There are tens of millions of women and women out of work.

01:05:45.120 | There are tens of millions of women and women out of work.

01:05:47.120 | There are tens of millions of women and women out of work.

01:05:49.120 | There are tens of millions of women and women out of work.

01:05:51.120 | There are tens of millions of women and women out of work.

01:05:53.120 | There are tens of millions of women and women out of work.

01:05:55.120 | There are tens of millions of women and women out of work.

01:05:57.120 | There are tens of millions of women and women out of work.

01:05:59.120 | There are tens of millions of women and women out of work.

01:06:01.120 | There are tens of millions of women and women out of work.

01:06:03.120 | There are tens of millions of women and women out of work.

01:06:05.120 | There are tens of millions of women and women out of work.

01:06:07.120 | There are tens of millions of women and women out of work.

01:06:09.120 | There are tens of millions of women and women out of work.

01:06:11.120 | There are tens of millions of women and women out of work.

01:06:13.120 | There are tens of millions of women and women out of work.

01:06:15.120 | There are tens of millions of women and women out of work.

01:06:17.120 | There are tens of millions of women and women out of work.

01:06:19.120 | There are tens of millions of women and women out of work.

01:06:21.120 | There are tens of millions of women and women out of work.

01:06:23.120 | There are tens of millions of women and women out of work.

01:06:25.120 | There are tens of millions of women and women out of work.

01:06:27.120 | There are tens of millions of women and women out of work.

01:06:29.120 | There are tens of millions of women and women out of work.

01:06:31.120 | There are tens of millions of women and women out of work.

01:06:33.120 | There are tens of millions of women and women out of work.

E3: Modern Cold War, pandemic politicization & more with David Sacks & David Friedberg

Chapters