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Quest Means Business
Biden Names 10 Drugs Medicare Will Negotiate For; World Cup Controversy; Media Giants Block ChatGPT From Accessing Sites; Hurricane Idalia Coming To Florida As Cat 3 Storm; Engineering Firm Designs Sails For Cargo Ships; Quest's World Of Wonder: Egypt; Dash To The Bell. Aired 3-4p ET
Aired August 29, 2023 - 15:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
[15:00:32]
LYNDA KINKADE, CNN INTERNATIONAL HOST: US markets looking to recruit some losses after a miserable month. The Dow is near session highs, thanks to a
rally in tech stocks. Those are the markets and these are the main events.
President Biden unveils a new plan to curb the cost of key prescription drugs. We'll hear from the CEO of pharma giant, Nova Nordisk.
Spain's government is piling on the pressure on the disgraced head of its football federation to step down.
And news outlets like CNN and "The New York Times" are cutting off ChatGPT from accessing its content.
Live from Atlanta, it's Tuesday, August 29th. I'm Lynda Kincade in for Richard Quest and this is QUEST MEANS BUSINESS.
Tonight, US president, Joe Biden says he is going after pharmaceutical giants with a plan to make them lower the price of prescription drugs.
These are live pictures coming into us just now. He spoke in the last hour at the White House, and earlier today his administration released a list of
the 10 drugs whose prices will be subjected to negotiation.
Medicare, the US government-run health care program had previously been barred from negotiating drug prices. The list of drugs include popular
blood thinners and diabetes medications and this change aims to save Medicare $25 billion a year by 2031.
Mr. Biden said Americans are overpaying the drug companies.
(BEGIN VIDEO CLIP)
JOE BIDEN, PRESIDENT OF THE UNITED STATES: We pay more for prescription drugs than any other major economy in the world -- than any other major
economy in a world. You can walk in a local drug store across the country, you're paying two to three times more for the exact same prescription
manufactured by the exact same company that will cost you in Canada or France or anywhere else around the world.
(END VIDEO CLIP)
KINKADE: And prescription drug spending is significantly higher in the US as President Biden was just saying compared to other wealthy economies.
By one analysis, the US spends more than a thousand dollars a year per capita. Germany, the next highest spender pays over $300.00 less per
person. Much of the cost there is covered by insurance, so government health programs. People in the US have the highest out-of-pocket expenses.
Our correspondent, Jeremy Diamond joins us now from the White House. And Jeremy, it is no secret that Americans pay more for prescription drugs than
most other wealthy countries, on average, twice as much.
So this announcement today could equate to billions of dollars in savings for American patients.
JEREMY DIAMOND, CNN WHITE HOUSE CORRESPONDENT: Yes, that's right. It's about reducing those out-of-pocket costs that patients pay, including $3.4
billion in out-of-pocket costs for just these 10 drugs that are now going into this drug-price negotiation program over the last year. That's how
much Medicare recipients have spent on those drugs.
But it is also of course, about savings for taxpayers more broadly, and bringing down the deficit, which this program will deliver $98.5 billion in
savings over the next 10 years of its implementation. And so we have a list of 10 drugs that treat common conditions from heart disease, cancer,
diabetes, autoimmune disease that are all the first batch of these drugs that are going to be negotiated by Medicare.
These negotiations are going to take place over the next year, but these new prices won't actually take effect until 2026. In the meantime, though,
every year, 15 more drugs will be added the next two years, and then 20 more drugs in subsequent years.
And so obviously, significant for those seniors who have struggled to pay their prescription drug cost. The president framed it as such today, but
there is no question that there are still some possible questions that lie ahead about the viability of this program amid challenges.
KINKADE: Yes, and that question revolving somewhat around how the pharmaceutical companies are responding to this. We know they're not happy
about it. We know it's going to hurt their bottom line. Some say it'll hurt their innovation. Ultimately, is the Biden administration concerned about
lawsuits?
[15:05:00]
DIAMOND: Well there are eight federal lawsuits being brought by these pharmaceutical companies as well as trade associations associated with Big
Pharma and the Biden administration, though they are expressing confidence in the solid legal ground upon which this program is based.
This program is part of the Inflation Reduction Act, that landmark bill that mostly addresses climate change, but a host of other cost-saving
measures as well, including this Medicare drug price negotiation program.
I asked the president's domestic policy adviser, Neera Tanden at the White House briefing today about these lawsuits and she said that they are "very
confident in the law, very confident in these cases and very confident that this law will deliver the intended results."
We also heard from President Biden just moments ago, and he also expressed confidence in this even as he addressed head on the fact that these drug
companies are bringing these lawsuits and the president vowed that we are going to stand up to big pharma, he said and we are not going to back down
-- Lynda.
KINKADE: All right, good to have you on the story for us. Jeremy Diamond outside the White House, thank you.
Well, drugmaker, Novo Nordisk says it is concerned Washington's new approach will stifle innovation. The Danish company's shares have surged
this year as demand for its weight loss products, Wegovy and Ozempic have soared.
Its market cap is now around $400 billion, about equal to Denmark's annual GDP. The CEO of Novo Nordisk spoke to CNN's medical correspondent, Meg
Tirrell and he shared his thoughts on the Biden administration's decision.
(BEGIN VIDEO CLIP)
LARS FRUERGAARD JORGENSEN, CEO, NOVO NORDISK: We support anything that can help patients afford their medicines. Let's see how this plays out. It's
still early days, the tagline is negotiation. It smells more like price setting, and I believe that's problematic, because that will actually limit
innovation and availability of innovation for patients.
MEG TIRRELL, CNN MEDICAL CORRESPONDENT: It's something the industry has absolutely pushed back on and a number of other drug makers are actually
fighting this law from coming into effect. Do you anticipate that this first crop of drugs will actually face these price cuts? Or do you expect
that this will go up to the Supreme Court and ultimately not -- the law won't take effect?
JORGENSEN: It's still early days for us. We just learned this this morning, but it is important for us to explain that there's a very complex system
here with a number of rebates, different payments we pick up for patients within this doughnut hole et cetera.
So I think, it is grossly underestimated what is actually the price and the fact that for manufacturers, the price is deteriorating. Many patients are
faced with paying more because of how insurance is designed.
So maybe this is actually a welcome opportunity to actually get the record straight in terms of what is actually the price of insulin for
manufacturers, and what has been the development over time.
TIRRELL: Now, what everybody knows Novo Nordisk for, of course, are your drugs like Ozempic and Wegovy. This class of medicines is probably the
biggest thing to come along in this industry and decades, right. I'd love to hear how you think about it. But just hearing about it, both from the
economic standpoint, I mean, there are articles that are out there about how you're affecting the economy of Denmark, because you're -- you have so
many American dollars coming in that you're converting into the local currency that is affecting the economy.
And from a societal standpoint, what I hear from doctors who treat patients with obesity is that these are complete game changers for the way they look
at medicines. How do you look at the demand for these drugs? Did it exceed your expectations?
JORGENSEN: Well, I'll start by saying that as a company trading a hundred years, being a purpose-driven company, and our purpose is to drive change
to defeat serious chronic diseases. It is a really exciting moment for all employees in Novo Nordisk to be part of actually having research,
developed, and manufacturing a product that has these benefits for millions of people.
And as we spoke about before, it's not only the individual but also to the benefit of health care systems. And then with that fantastic property also
comes a huge demand, so we experienced a demand that's very significant.
And being a hundred-year-old company, we've been used to launching new products. We've been used to selling insulin also to millions of patients
and have been launching new versions of insulin. We've also been on the type one -- the type one space for 15 years, but the benefit we now bring
to patients is of a nature where we just see a completely different demand in the market.
So we investing three to four billion dollars a year now in expanding capacity. We have right ramped up all our factories to be running 24/7.
[15:10:07]
And if you just take Ozempic as a best-selling diabetes medicine today, it grew the first six months this year by 59 percent, so we have the best-
selling medicine growing by more than 50 percent. That also underlines that we are ramping up significantly.
(END VIDEO CLIP)
KINKADE: Well, the Spanish government is taking further steps towards suspending football chief, Luis Rubiales. It says he displayed unacceptable
behavior at the Women's World Cup Final and called the kiss he planted on footballer Jennifer Hermoso a very serious violation of Spain's law of
sport.
The National Football Federation tells CNN that it stripped Rubiales of his salary and benefits. He has been told to hand over his official car,
corporate phone, and laptop and won't be allowed to use the federation's funds for his legal defense.
Atika Shubert is covering the developments and joins us now from Madrid.
Good to have you with us, Atika, so, so far, he has lost his salary, his car his phone, but not yet his job.
ATIKA SHUBERT, JOURNALIST: No, the pressure on him to resign is increasing by the minute. The Spanish women's team has refused to play, unless he is
removed from office. FIFA has suspended him temporarily for 90 days while this is being resolved, and now of course, the prosecutor here in Spain has
opened a criminal investigation into allegations of sexual assault.
But we haven't heard anything from Rubiales since Friday when he refused to resign very defiantly. We've asked the Federation for a response. We've
tried to get in touch with him but we have had no response from him on that.
And meanwhile, the demands for him to go keep on going.
(BEGIN VIDEOTAPE)
SHUBERT (voice over): Winning the World Cup wasn't just a victory for Spain, but a celebration of how far women's rights had come, all undermined
by the boorish behavior of Spain's football chief, Luis Rubiales grabbing his crotch in victory next to the Spanish Queen and her 16-year-old
daughter, and the forceful unwanted kiss he planted afterwards on player, Jenni Hermoso.
Rubiales said he made a mistake, but called the kiss consensual; Hermoso said it was not and felt violated.
In places of power, protesters and officials say Spain still has deep pockets of chauvinism. In Madrid, hundreds heeded the knee to rallying cry
of Spain, "Se Acabo" meaning, it is over, enough with the crotch grabs, the unwanted kisses and the chauvinism as Spain's Deputy Prime Minister Yolanda
Diaz told CNN, the country has moved on.
(YOLANDA DIAZ speaking in foreign language.)
SHUBERT (voice over): "The structural sexism and the violence that they have had with a player like Jenni Hermoso is intolerable in a democracy,"
she said. "We are dealing with a person who is a victim of sexual assault and far from having protected her, what they have done is to continue to
violate her rights.
And yet, Rubiales refuses to resign.
(LUIS RUBIALES speaking in foreign language.)
SHUBERT (voice over): He argues that Spanish football has profited under him. Since he became president, he has increased the federation's budget
nearly fourfold to more than 400 million euros.
And what would have been his crowning achievement, Spain's bid for the 2030 World Cup along with Portugal is now in jeopardy, sports official say.
Even before this year's World Cup, the Spanish women's team had complained about the team culture. Late last year, 15 team members resigned in protest
over the way the team was run by their coach, who was supported by Rubiales. Only three returned to play in the World Cup.
Their complaints might have been swiftly forgotten had it not been for Rubiales' own behavior.
(END VIDEOTAPE)
KINKADE: We thank Atika Schubert for that report. Well, Spanish football legend, Andres Iniesta says the scandal has overshadowed a momentous World
Cup win. Speaking to our Becky Anderson, he called for a swift end to the crisis for the sake of Spanish football.
(BEGIN VIDEO CLIP)
ANDRES INIESTA, 20210 WORLD CUP WINNER WITH SPAIN (through translator): But it's a difficult situation for everybody in general terms, especially me,
because something so important that has happened in this country, that we have won a World Cup with all that it means for the female football
players, and for the fans that we have to discuss these issues, something unheard of.
Of course, it's not a pleasant situation. Many people have spoken out and don't like the situation, and I hope that the situation is sorted out and
that we don't have to discuss it anymore.
The important thing is that Spain was again a World Cup winner in football.
[15:15:09]
It's not a happy issue to discuss about.
BECKY ANDERSON, CNN INTERNATIONAL ANCHOR: And you're absolutely right. The World Cup win was tremendous. It has, though, unfortunately been
overshadowed by this incident, this saga.
I ask you again, just how important is it? It's clearly important to you that this is cleared up. How can it be rectified? Do you believe Luis
Rubiales needs to resign and that there needs to be an overhaul of management in Spanish football at this point?
INIESTA (through translator): I think when these kinds of situations arise, which are not normal, and we have arguments, and there are many different
bodies that can evaluate the situation, and this is the situation in which the Spanish Federation is in now.
They will draw their own conclusions, and the other opinions are just opinions. And some may think they are right, some may think they are wrong,
but actually, the Spanish Federation has to discuss it.
(END VIDEO CLIP)
KINKADE: You can hear the rest of Becky's interview with Andres Iniesta on tomorrow's "Connect the World."
When we come back, major media companies including the one you're watching right now are blocking ChatGPT from using their websites. It is part of a
growing feud between traditional outlets and AI firms.
(COMMERCIAL BREAK)
KINKADE: Welcome back. I'm Lynda Kinkade.
Some of the world's biggest media companies have blocked ChatGPT from scanning their new sites. CNN, "The New York Times," and Disney are among
the dozens that have denied the chatbot access and their articles -- to their articles and their information. The developer of Open AI relies on
that kind of data to train ChatGPT. Many news companies see the practice as a threat to their business.
Senior media analyst, Sara Fischer joins us now live from London.
This is a pretty fascinating move, Sara. Media company's trying to get ahead of AI here, but I want to understand how a ban like this would work
given this information is readily available on websites. How do you stop a bot from scanning a platform?
[15:20:08]
SARA FISCHER, CNN MEDIA ANALYST: Well, it's a great question, you have to do it on the backend so that these crawlers, basically, the applications
that are meant to scrape the data can't do it en masse.
Even though a lot of these sites have articles that are in front of the paywall and visible to the free public, you can't really pull massive
amounts of data by hand, you need to set up a tech infrastructure tool to be able to scrape them consistently.
Now, this isn't totally new. In the search era, when we first started to develop Internet search engines, we developed similar scraping tools to be
able to search all the web's contents for you know, basic platforms like Yahoo and Google.
A similar thing is happening here, but the difference is, in the search era, publishers had something to gain from this. They had traffic that they
could be gained, if they showed up high in search engines, and they could monetize that traffic with ads. The challenge with the artificial
intelligence era is that there is not an equal quid pro quo. That's what publishers are fighting for now.
Essentially, they're blocking these companies from being able to access their data, because they want to be able to leverage that access for money
or for something in return.
KINKADE: So, Sara, if this ban is effective, what does it mean for the development of ChatGPT and other AI apps? Are we going to see more
inaccuracies?
FISCHER: I would think so. I mean, these apps rely very heavily on being able to scrape these websites' quality information, premium publishers
websites, so that they can train their algorithms and so that they can train their bots. If they don't have access to that information, it becomes
a lot harder for them to train their tools.
Now, it's also worth remembering that outside of news organizations, including Axios and "The New York Times," et cetera, you have large tech
platforms that are also trying to shield themselves from the likes of OpenAI and Google's Bard.
An example of that would be Twitter and Reddit both putting their API or their backend interface behind a paywall. That makes it a lot harder for
some of those companies to scrape their data as well.
KINKADE: And of course, Sara, I mean, the news industry, it's already struggling. There are definitely implications for the media industry, if
you know the likes of ChatGPT can readily access data and use it freely. How big a threat, is it?
FISCHER: Another great question, it's a pretty big threat, but there's also some upside. If the news industry is able to come together and collectively
bargain with these companies, they could possibly stand to get paid out for some of their contributions and that could be a critical revenue stream at
a time when news companies are struggling.
But of course, you mentioned the risk. If a journalist like myself has their data consistently scraped. One, you post copyright risk. But then the
other is that you pose the risk of these ChatGPT platforms being able to mimic your writing style, being able to write in your tone and voice, that
is my IP or journalist IP or media companies' IP that's valuable that then anyone could access.
So it does pose a pretty serious business threat. What I think news organizations are doing right now is they're trying to get ahead of it by
creating some sort of legal quid pro quo in which if they were to give over some of this data, they could get paid for it or get access to something in
return.
KINKADE: And of course, Sara, ChatGPT is widely known. How do media companies protect their data and copyright against other lesser known
entities, is it the same way?
FISCHER: It's an interesting question. I think one of the things that they have been trying to do is warn their journalist not to put too much of
their own personal information into any of these types of systems, whether it's ChatGPT or a smaller artificial intelligence platform, don't input too
much of your data inside of it.
The other thing that they're trying to do is get ahead of it by making sure that they create standards within their newsrooms, about how they can be
using these platforms. So for example, the AP, which is sort of a worldwide leader in leveraging artificial intelligence and news gathering, put out a
lengthy list of standards just a few days ago explaining where they can and can't be using these types of platforms. That, they hope will guard against
journalists using platforms that are smaller than the ChatGPT's that they might think are okay, but actually maybe are not.
KINKADE: It's good to see these many companies are on the front foot when it comes to this rapidly developing technology.
Sara Fischer, good to have you on the program. Thank you.
FISCHER: Thank you.
KINKADE: So no cameras, no fanfare, and no public mourners. It was just a private burial attended by family. That's how the funeral of the Russian
mercenary leader, Yevgeny Prigozhin is being described today.
A company owned by the Wagner chief first reported his burial near St. Petersburg saying it took place earlier today. An independent Russian news
outlet says about 30 relatives attended and no military figures were spotted.
Russia says Prigozhin died in a plane crash along with nine other people last week exactly two months after he staged a mutiny against the top
military brass in Russia.
[15:25:03]
The secrecy around today's burial ensured that no crowds showed up to turn it into a public show of support for Prigozhin against the Kremlin.
Our Matthew Chance visited the cemetery.
(BEGIN VIDEOTAPE)
MATTHEW CHANCE, CNN SENIOR INTERNATIONAL CORRESPONDENT: The authorities had gone to huge lengths to try and cover up where the funeral was going to
actually take place. They put security barricades and metal detectors outside other cemeteries in St. Petersburg.
Meanwhile, the actual funeral took place here, about an hour drive outside of St. Petersburg, the Russian city. You can see, we've come here now.
We're not allowed into the cemetery, but there are all of these security guards actually members of the National Guard, and there are these armed
sort of snipers outside the various perimeter points as well.
And so they're imposing really tight security on this entire area to make sure that people don't go in, presumably, so people don't go in and pay
their respects, there is quite a lot, but obviously, they're very insecure indeed about that.
I just want to show you the closest we can get though, to the grave site, because if you come a bit over here, you can look through the branches over
there into the middle of this quite small cemetery and you can see a Russian flag, you can see some flowers there that are have been arranged
and there is a very simple wooden cross, which you may not be able to see now, but that's Yevgeny Prigozhin's gravesite. It is actually right next
door to where his father was buried as well and that's obviously one of the reasons why this cemetery was picked.
But I think the other reason is that it's just so out of the way and that the authorities could you know, kind of pretend it was somewhere else but
actually hold it here without much publicity and that's what they've managed to do. I say though, a lot of security. We're not permitted to go
in.
For the moment, this is as close as we're going to get.
(END VIDEOTAPE)
KINKADE: Our thanks to Matthew Chance there. Well, still to come, Hurricane Idalia is gaining strength, closing in on the US state of Florida. Millions
there are preparing for its arrival.
(COMMERCIAL BREAK)
[15:30:11]
(MUSIC PLAYING)
KINKADE (voice-over): Welcome back. I'm Lynda Kinkade.
And we are tracking Hurricane Idalia. It is strengthening as it approaches Florida. It's a category 1 and it's expecting to pick up speed by the time
it makes landfall Wednesday. Florida's governor says millions of people must do whatever is necessary to stay safe.
(BEGIN VIDEO CLIP)
GOV. RON DESANTIS (R-FL), PRESIDENTIAL CANDIDATE: Don't need to drive hundreds of miles or outrun the storm. Just get to higher ground, get to a
safe structure, ride out the storm and then go back to your place.
The storm surge, you're not going to win that battle if you decide to stay behind for that. You run away from the water and then you hide from the
wind.
(END VIDEO CLIP)
KINKADE: Well, in a moment we'll get an update at the World Weather Center. First I want to go to Patrick Oppmann, who is in Havana, Cuba, where Idalia
brought heavy rainfall.
Seeing you there earlier today with streets flooded, what did you all experience there when this was just a tropical storm?
PATRICK OPPMANN, CNN CORRESPONDENT: You know, much less powerful storm and still it packed a punch. We had a couple squalls go through here, they
could knock down our tripods and heavy equipment with a single gust.
There's significant flooding to the western part of Cuba where many people, hundreds of thousands of people, are still without power. Restoring power,
of course, is a lengthy process and this is an area that had severe damage after Hurricane Ian last year.
So Cuba got a glancing blow of a storm that's not going to be anywhere near as powerful as what Floridians can expect. No deaths reported as of now.
But sometimes the days following the hurricane can be the most dangerous, Lynda, because people are going about picking up.
They're getting power lines off of roofs and using generators and perhaps working in extreme heat and dealing with the unpleasant conditions you find
after a hurricane. That could be still quite dangerous.
But what we're seeing right now is this hurricane leaving Cuba and heading toward Florida. And of course, traveling across waters which are much
warmer than we've typically seen in years past. That's fuel for hurricanes. Certainly Floridians have a reason for concern as the powerful hurricane
approaches the United States.
KINKADE: Patrick Oppmann, thank you very much.
(WEATHER REPORT)
[15:35:00]
KINKADE: Scientists warn that climate change is making storms like Idalia more intense. The shipping industry is revisiting good old-fashioned sails.
Cargill recently equipped a vessel with huge rigid wind wings. It hopes to show that wind power can offer a cost-effective way to cut fossil fuel.
The maritime industry accounts for nearly 3 percent of all CO2 emissions and is looking for ways to go green. BAR Technologies designed the wind
wings and the CEO John Cooper joins me to discuss this.
Good to have you on the program.
JOHN COOPER, CEO, BAR TECHNOLOGIES: Thank you, I'm really happy to be here.
So sailing cargo ships does sound like a step back in time, using, you know, old world innovation to solve a new world problem.
How are your sails different than what we're used to seeing, the old commercial sailing ships?
COOPER: Yes, of course, wind isn't new for propelling vessels. But ours is a little closer to an aircraft wing. Imagine you're in the cheap seats in
the back of the plane and looking out at the wing taking off.
That wing is flat in the middle and often a nose comes out in the front and a tail at the back. And that gives the aircraft maximum thrust when taking
off.
And what we've done is we've actually inverted that wing and put it upwards on the vessel and therefore the propulsion is forward rather than up. And
that's the way you can really understand how the technology works.
KINKADE: The whole point of this, John, is obviously to reduce the carbon footprint. We know that the shipping industry is cause for 2 percent of
carbon emissions globally. Put that into perspective for us.
How significant is that and what sort of difference could your product make?
COOPER: I think it will be huge. You know, I've predicted and continue to predict, by 2026, over half the vessels, the bulkers and the tankers, will
have some form of wind propulsion. We're saving 1.5 tons of fuel per wind wing per day.
I was interested in hearing about Hurricane Ian and how that had a devastating effect. This is a good news wind story, 1.5 tons of fuel saved
per day. That's 4.65 lower CO2 tons emitted per wind wing per day.
So that first vessel, well on it's way on its maiden voyage, is saving on fuel and, more importantly, reducing the emissions of the shipping
industry.
KINKADE: And you've spent about 15 years with the Formula 1 racing team. So you clearly understand the needs for speed.
Will the sails slow down the shipping?
COOPER: Well, it's quite interesting; some of the things are very similar. The vessel, the vessel, actually, I can tell you, I spoke to my ops
director on board and he was really excited about the speed of the vessel.
And I'll tell you why. The vessel was designed to go 13 knots, 14 knots. A lot of the vessels are slow speeding. And that means taking the engine down
to save the fuel.
[15:40:00]
COOPER: So very much like your car on the road; the faster you go, the more fuel you burn comparatively. So a lot of the vessel owners are insisting on
slower speeds.
But the first vessel owned by Mitsubishi and chartered by Cargill took the RPM down to that low RPM, the engine down to its lowest form. And actually,
the wind power accelerated the vessel to 16 knots. So, actually, the wings are speedy, too.
KINKADE: That is a good sign. John Cooper, the CEO of BAR Technologies, well done. Good to have you on the show.
COOPER: Thanks, big fan of the show, so really my pleasure to be on.
KINKADE: And good to have you.
And good to have you all with us today. That was QUEST MEANS BUSINESS. I'm Lynda Kinkade. I will be back at the top of the hour as we make a dash for
the closing bell. Up next, Quest's World of Wonder.
(MUSIC PLAYING)
(COMMERCIAL BREAK)
(MUSIC PLAYING)
RICHARD QUEST, CNN HOST (voice-over): I've moved onward from Cairo, up the Nile River to an ancient site. There's the Valley of the Kings and the city
of Luxor.
There's the mad dogs.
It is the same question as the pyramids.
How did they do it?
This time, the temple of Hatshepsut, dedicated to one of Egypt's famous female pharaohs.
The magnificence of this place. One can't really have the word for its significance, to truly describe its beauty.
Impressive as these structures clearly are --
[15:45:00]
QUEST (voice-over): -- let's remember the reason many were built in the first place. They are tombs and graves, designed to ease the rulers into
their afterlife.
Where am I?
BETSY HAILE (PH), JOURNALIST AND AUTHOR (voice-over): You're in the Valley of the Kings. This is the Valley of the Kings and this is where all the
famous pharaohs were buried.
QUEST (voice-over): Why were they all buried here?
HAILE (PH) (voice-over): You see this looks like a pyramid up here?
QUEST (voice-over): Yes.
HAILE (PH) (voice-over): So they went from pyramid building to hidden away. They wanted to be hidden from the Nile so that they could live in eternity
and not be found.
QUEST (voice-over): The former journalist turned author, Betsy Haile (ph), is my guide in Luxor.
QUEST (voice-over): So how important was it to be buried here?
HAILE (PH): You were the ruler, you were the pharaoh. You were the ruler of Egypt, this great regional power. And this is why all of these people
wanted to be buried here.
QUEST (voice-over): And its true magnificence is underground.
HAILE (PH): Seti I. He was one of the beginning of the 19th dynasty, around 3,200 years ago. And his tomb is the deepest, about 400 feet long. People
think this was a secret tunnel that maybe held treasure.
QUEST: This is what I love about the whole thing because, no matter how much we know, there is somebody who says, ah, you don't know at all.
HAILE (PH): You don't know what's down there?
I want to go down there and I want to find that treasure.
QUEST: Do you think there's still some there?
HAILE (PH): You never know.
(MUSIC PLAYING)
QUEST (voice-over): And on that cheerful note, we start the descent.
HAILE (PH) (voice-over): Here you see the coffin that would have Seti. And he's heading into the underworld. So this would be part of his journey. And
along the way, he has allies and those who fight against him in his journey.
QUEST (voice-over): Awfully exciting. Careful.
I can't help but feel like Indiana Jones.
And what is an ancient tomb if it hasn't got a proper booby trap?
So this was a trap?
HAILE (PH) (voice-over): Yes. They were trying to keep tomb robbers out. And as you can see, you wouldn't want to fall down there.
And here's Seti with Osiris.
QUEST (voice-over): All the years, just sitting in the dark.
HAILE (PH) (voice-over): Exactly.
QUEST (voice-over): The deeper we go, the more incredible and elaborate this tomb becomes.
Oh, this is magnificent.
HAILE (PH) (voice-over): The burial; so, you're coming in a crescendo of beautiful -- look at here, this priest. Look at the leopard pelt. It's all
in 3D, exquisite detail and bas relief.
QUEST (voice-over): And where would the king have been?
HAILE (PH) (voice-over): The king would have been here. This is the burial room. And it's magnificent.
QUEST (voice-over): Oh, wow, extraordinary.
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QUEST (voice-over): Here in Egypt, there is and has always been the golden thread that runs through this country. It's allowed these lands to prosper
and grow mighty. That thread, of course...
-- waterway of the pharaohs --
-- is the River Nile.
[15:50:00]
QUEST (voice-over): Lost in thought, wondering how it would have been in times past, with a reminder that perhaps the ways of the past haven't
completely gone away.
I was just thinking, there's really not many better ways to enjoy breakfast: on the Nile, sunrise, peace and quiet.
Cruising on the River Nile, a traditional dahabiya boat that allows me to take all this in, to slow the mind and all this starts to make sense.
The Nile flows south to north, counter intuitive. It actually goes the opposite way that you think it does. So we are going up the Nile even
though we are literally traveling down the country.
And they call this part of Egypt Upper Egypt because it's higher land. But actually it's lower on the map. So we are going up the Nile to Upper Egypt,
even though we're going south, to the lower part the country.
Understand?
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QUEST (voice-over): This is the opposite of today's fast modern travel, where we cross the globe in hours. Here on the Nile, my spirit can catch up
with my physical presence.
Oh, thank you. Thank you very much. Thank you.
I love mint tea.
Mention the Nile and, of course, I immediately want to be part of Agatha Christie's "Death on the Nile." I shall have to settle for being a voyeur
in situ (ph).
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QUEST (voice-over): The Nile gives me perspective because so many temples and tombs can eventually overwhelm. And then, along comes something that
looks and feels really different.
Dr. Monica Hanna has dedicated her life to archaeology and preserving Egypt's ancient sites.
So where are we going?
DR. MONICA HANNA, ARCHEOLOGIST (voice-over): We're going to (INAUDIBLE) temple today. We're here at the lake that's between the Aswan (INAUDIBLE)
dam where the (INAUDIBLE). This pier and is in a village called (INAUDIBLE). So we're picking up the boats to go to (INAUDIBLE).
QUEST (voice-over): Onwards, which way is it?
That way?
Right.
HANNA (voice-over): This is the new place of Hile (ph). Hile (ph) used to be on a different island then it was relocated (INAUDIBLE).
QUEST (voice-over): So much of the year, this temple would be under the waters of the Nile.
On we go.
Then in the late 1960s, the Egyptian government, along with UNESCO, picked up this temple piece by piece and moved it to higher ground.
It must have been quite an operation.
HANNA (voice-over): Yes. And it lasted for more than 10 years and, archeologists, architects, Egyptian workmen worked very hardly (sic) on
cutting the puzzle and then putting back the puzzle together.
So they even fantastic discoveries when they dismantled the temple because they found that there were older blocks from the saiic (ph) period recycled
and used in the Greek and the Roman period.
QUEST (voice-over): All of this moved, brick by brick.
HANNA (voice-over): This is so you can actually see when it was submerged in the water. You can see the water line.
QUEST (voice-over): You can.
HANNA (voice-over): It used to cover the head of the gods.
QUEST (voice-over): Forgive the crude language but the best bits are always at the deepest part of the temple.
So when I look at it and I see all these different tombs, Tutankhamen, this person, the other where does this fit into it?
HANNA (voice-over): This fits into a daily life temple, where people -- the tombs are the realm of the dead. But here is the realm of the living.
People came to the temple of Isis, to venerate the goddess. This was the burial place of the god, Osiris. And the temple was not just a religious
place.
QUEST (voice-over): There are so many temples.
HANNA (voice-over): Yes.
QUEST (voice-over): Is this considered to be one of the best examples?
HANNA (voice-over): Yes. Definitely of the Ptolemaic period, yes.
[15:55:00]
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QUEST (voice-over): I can never get enough fresh mint tea.
And so, to the word that I think best describes all of this, it is classic, Cairo, Luxor, Aswan and the Nile. And you'll want to discover all of these
classics for yourself. Classic Cairo and the Nile, undoubtedly part of a world of wonder.
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KINKADE: Hello it is the dash to the closing bell and we're just two minutes away. The major U.S. averages are building on a strong start to the
week. The Dow has been positive throughout the day. It's up about 280 points right now.
The S&P is more than 1 percent higher and the Nasdaq has soared up nearly 2 percent.
Tech investors appear to be regaining confidence after a tough August. Speaking of tech, some media companies are blocking ChatGPT from scanning
their websites. Sara Fischer says it'll make the AI chatbot less reliable.
(BEGIN VIDEO CLIP)
SARA FISCHER, CNN MEDIA ANALYST: If they don't have access to that information, it becomes a lot harder for them to train their tools.
Now it's also worth remembering that, outside of news organizations, including Axios and "The New York Times," etc, you have large tech
platforms that are also trying to shield themselves from the likes of OpenAI and Google's Bard.
An example would be Twitter and Reddit, both putting their API or their back end interface behind a paywall. That makes it a lot harder for some of
those companies to scrape their data as well.
(END VIDEO CLIP)
KINKADE: Looking at the Dow components, Verizon is leading the way and analysts from Citi gave the stock an upgrade. Apple is expected to unveil
its new iPhone in a couple weeks.
Tech stocks are higher across the board, just a handful of losers. J&J is at the bottom. As we discussed the U.S. government is going to be using its
purchasing power to negotiate to lower drug prices.
Well, that is your dash to the bell. The closing bell is ringing on Wall Street. And "THE LEAD WITH JAKE TAPPER" starts right now.
END
