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Quest Means Business
Wall Street Tumbles in Inflation Fears, Walmart Forecast; White House Say Donald Trump is Frustrated with Zelenskyy; Hassett: DOGE Dividend Checks will not be Inflationary; Israel Halts All Trains and Buses After Explosions in Bat Yam; Hamas Returns Remains of Four Israeli Hostages; GoFundMe Raises Over $250 Million for L.A. Wildfire Victims; Amazon MGM Takes Creative Control of James Bond Franchise. Aired 4-5p ET
Aired February 20, 2025 - 16:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
[16:00:12]
PAULA NEWTON, CNN INTERNATIONAL HOST: So nothing to panic over or anything. The Dow down about one percent. The other markets also in the red. I would
note with caution that is the way the world is approaching 2025. Those are the markets and these are the main events.
Walmart sends shockwaves through Wall Street, warning 2025 could be a very bumpy year.
Donald Trump's top economist says the president's idea for a DOGE dividend check for all Americans wont stoke inflation.
And this hour, Germany's ailing economy takes center stage as its top politicians hold one last debate before this weekend's election.
Live from New York. It is Thursday, February 20th. I am Paula Newton, in for Richard Quest and this is QUEST MEANS BUSINESS.
Good evening.
Tonight U.S. markets tumbled as bleak forecasts and the reality of possible tariffs settle over Wall Street. Now the Dow stayed deflated throughout the
day after sinking this morning. Closing down, you see it there a little bit better than one percent.
Now the retail bellwether, Walmart fell more than six percent after issuing a disappointing outlook. It is forecasting that sales and profit growth
will slow this year.
Walmart's warnings are part of a darkening picture for the U.S. economy in 2025, and the storm clouds, they are gathering, uncertainty around tariffs
is raising cost concerns of businesses.
A University of Michigan survey showing consumer sentiment falling for the second straight month. It fell for the first time in six months in January,
and the latest CNN poll showing Americans do not believe the Trump administration is doing enough to address high prices.
Vanessa Yurkevich is here with us in New York.
And you know, Vanessa, beyond everything we just explained, one trip to the supermarket will tell Americans everything they need to know.
VANESSA YURKEVICH, CNN BUSINESS AND POLITICS CORRESPONDENT: Yes, we see it and we believe it. But as you mentioned, Walmart, we can start there. They
reported a forecast that showed slower sales growth than analysts were expecting and that is why you saw the tumble in the markets today,
particularly with the Dow down over 600 points at one point, and Walmart's stock closing down 6.5 percent there.
But the forecast from Walmart really was a sense that they were reading the room. They were understanding that consumers were pulling back in spending.
We saw that in retail sales last month, down about 1 percent almost, and inflation is heating up at the same time and there is so much uncertainty
around tariffs and what that is going to mean for consumer pricing.
We heard from the CFO of Walmart. Here is what he said on an analyst call earlier today. He said: "Our outlook assumes a relatively stable macro
environment, but acknowledges that there are still uncertainties related to consumer behavior and global economic and geopolitical conditions."
So essentially saying right there that Walmart believes that their customer and that their business is resilient, but they are not immune to all of
these question marks and all of these uncertainties and these economic conditions that we could be facing in the very near future -- Paula.
NEWTON: Yes, what was so interesting to also hear, though, from the University of Michigan talking about consumer sentiment, because they were
driving at the overall vibe, if you will, in the American economy and it seems to have turned to fear so quickly.
YURKEVICH: Yes, we got the preliminary report for February, and those numbers really show that people are not feeling great about the economy and
month-over-month, so from January to February, there was a drop of 4.6 percent in how people were feeling. And year-over-year change, more than 10
percent drop in how people are feeling about the economy.
And really when you look at it, it is all the things we just mentioned about Walmart. People are concerned about what they're spending and how
much things cost, and all of the economic uncertainties about what their paychecks are going to look like, and then what prices look like at the end
of the day.
And consumer sentiment is one of the ways that we can really pick up that feeling rather than looking at data points. But as you mentioned, just talk
to your neighbor in the grocery store and ask them how they're feeling. They will probably give you an honest answer about how prices are not
looking too good to them right now.
NEWTON: Yes, you can also just talk to mom and in terms of speaking to people, our CNN poll shows that if we put the president's approval ratings
to one side for a moment and they are at a high for him, although still not above 50 percent, if you really did a deep dive on the numbers, you could
see that anxiety over the economy.
[16:05:02]
YURKEVICH: Yes, you certainly can. I mean, most Americans are saying that Trump has not paid enough close attention to the country's most important
issues, and those issues and problems for so many Americans is the economy, 62 percent feel that he has not gone far enough in trying to reduce prices
of everyday goods for Americans.
Now, we should say he has been in office for one month, so he has not had a lot of time to make progress on prices, but inflation is heating up, and
there are things that his administration has said that they plan to do, like roll out an avian flu response, which would help potentially to combat
the high price of eggs.
He has also said that he wants to boost oil production here in the U.S. in order to offset higher energy costs for Americans, but of course, the U.S.
doesn't necessarily have that refining capacity to be able to do so.
So these are things that he says he is going to do. I think Americans are waiting to see if he does them and if that ultimately affects pricing --
prices, which is what all of us care about every single day -- Paula.
NEWTON: Yes, and I take your point that it has only been a month, but we won't get grace for too many months as Americans continue to worry about it
and as we've said so many times on the show, it will affect the whole global economy if that American consumer is tentative.
Vanessa Yurkevich, thanks for breaking it all down for us so well. I really appreciate it.
Now, the U.S. National Security adviser says President Trump is "frustrated" with Ukraine's Volodymyr Zelenskyy.
Mike Waltz addressed the recent back and forth between the two leaders. Mr. Trump falsely claimed Ukraine started the war with Russia, and then
Zelenskyy said the U.S. President had fallen for disinformation. Waltz was asked about Trump's remarks and he too, criticized Zelenskyy. Listen.
(BEGIN VIDEO CLIP)
REPORTER: Who does he think is more responsible for the Russian invasion of Ukraine? Putin or Zelenskyy?
MICHAEL WALTZ, WHITE HOUSE NATIONAL SECURITY ADVISER: Well, look, his goal here is to bring this war to an end. Period. And there has been ongoing
fighting on both sides. It is World War I style trench warfare since. So some of the rhetoric coming out of Kyiv, frankly, and insults to President
Trump were unacceptable.
(END VIDEO CLIP)
NEWTON: Zelenskyy posted on X that he in fact is grateful to the U.S. for all its support. He said his meeting with U.S. Envoy Keith Kellogg was
productive and that Ukraine wants to make an investment and security deal.
Now, the Trump administration wants that deal to include Ukraine's rare earth minerals. Zelenskyy says the U.S. asked for half the revenue from his
country's rare earths and other resources. According to sources, that money is for military aid already provided.
Ukraine has deposits of lithium, graphite, and many other elements. China dominates global rare earth production and has curbed exports to the United
States.
Nick Paton Walsh is live with us from Kyiv.
I mean, Nick, look, you've been following this, I will say, since this conflict started, but also from the beginning of Mr. Kellogg's visit to
Ukraine, did you get any indication that there was any progress made or that he even speaks for the Trump administration at this point in time?
NICK PATON WALSH, CNN CHIEF INTERNATIONAL SECURITY CORRESPONDENT: Yes, there is no indication that he does not. And obviously, he has been left
out of some of the negotiations with Russia, but the administration has said that its essentially part of a two-track process where Waltz, Rubio,
the National Security adviser, and Secretary of State and the U.S. Middle East Envoy Steve Witkoff, have been dealing with the Russian relationship.
And separately, Kellogg came here, a long awaited visit to hear what the Ukrainians had to say.
We haven't had a detailed readout. We were possibly, as journalists, thinking that after their meeting they might address the press and were
gathered there, but then told that the American side had asked there would be no press availability after the meeting today.
Certainly, we have heard from Zelenskyy that he considered the meeting to be productive. They talked about security guarantees, getting their
prisoners of war back, essential building blocks of a peace plan to some degree.
But again, the issue of the rare earth mineral deal came up, and Zelenskyy said that he had expressed to Kellogg the fact they wanted some sort of
proposal to move forward and were willing to get the investment agreement off the ground.
Zelenskyy rejected it out of hand, it seemed. He said he wasn't ready. And we understand from sources that it was basically two pages of legalese and
then a list of assets that the U.S. wanted, as you say, to repay past debts. And there were no guarantees for future security or about future
funding. So clearly, a document in need, in Ukraine's view of some work here.
But it has been, I think, for many in Ukraine, distressing over the last 72 hours to hear this litany of mistruths from U.S. President Donald Trump
about Volodymyr Zelenskyy essentially trying, it seems to either pressure him into this deal or undermine his standing globally, suggesting he is a
dictator falsely and is running away from elections.
Today, I think we began to see a bid for normalcy to return, but I think the damage done from this Zelenskyy-Trump spat will probably endure. It may
push Ukraine into this, it seems not too advantageous to them, rare earth minerals deal. But you even heard there, National Security adviser, Mike
Waltz, he keeps coming back to that particular deal, damning of Zelenskyy's rhetoric. Little criticism. Very actually reticent to even mention the fact
Russia started this invasion in 2022, talking about fighting on both sides.
But interesting also too, to hear the White House recognize the horrific nature of this war and the toll it is taking on Ukraine. So a sign, I
think, that sort of there are calmer hands potentially in the White House trying to get things back on track, and we may learn later that the
Kellogg-Zelenskyy meeting introduced some normalcy back to relations.
But be in no doubt, what we've seen between the Presidents of U.S. and Ukraine has radically damaged and reversed the Kyiv-Washington relationship
and that may be an enduring problem.
NEWTON: Another sobering day of developments there in Ukraine.
Nick Paton Walsh, grateful to you. Thanks so much.
Donald Trump's top economist says the President's idea to give taxpayers a DOGE dividend is not inflationary. Mr. Trump says he is considering sending
out checks funded by DOGE spending cuts. He says Americans would receive 20 percent of the savings.
Now, some fear that the plan could reignite inflation. National Economic Council Director Kevin Hassett says people would save any money given to
them and that inflation would fall.
Tom Foreman is in Washington for us. I will be charitable here. I do not believe this passes any kind of factcheck, this is from a man who has a PhD
in Economics, but I am more wondering how they're going to sell this to the American people. Is the money even there?
I mean, are Americans -- how much would it possibly be? Are Americans going to have enough to buy a few cartons of eggs or the refrigerator to put them
in?
TOM FOREMAN, CNN CORRESPONDENT: More of the former, if it is true at all. Their numbers are a mess right now. The Department of Government
Efficiency, you know, they have this website where they're claiming $55 billion worth of savings so far. CNN went through that, and it is just rife
with mistakes and exaggerations.
For example, one contract that was at best worth $8 million, they initially listed as $8 billion, which was not the case. And even the $8 million
represented a theoretical top that it could reach under certain conditions, but it was actually only worth about half that much.
So even if you said they had $55 billion worth of savings now, now, not what they project they might get in the future, if you did these dividends
based on that, however you did it, that would be about $33 for every person in the United States, not really life changing.
If they get to this $1 trillion they say that they might get to somehow, although I don't really know how they are going to do that, then it could
be bigger. But Paula, and this is really important, none of this takes into account the spending that Donald Trump has planned.
Many analysts have looked at his plans, his tax cuts and everything else and said that is going to drive the cost of government way up, not down. So
I am not sure what happens with this idea of some kind of DOGE return here.
At the moment, you know, my instinct is to say, it is a talking point to get voters out there thinking maybe something good is going to come to them
out of this beyond government savings. I suppose, I'd be sort of surprised if it ever actually turns into something, but maybe, we will see if the
administration does.
NEWTON: But at that point, you know, given a few months, Americans are going to want to see cold, hard cash.
FOREMAN: Yes.
NEWTON: Given all of the spending -- given all of the spending decisions in front of government, though now, does there seem to be any fit between what
DOGE is doing? And I will add that that means cutting a lot of jobs. They've already been doing this.
FOREMAN: Yes.
NEWTON: And actually getting to any kind of a budget deal on Capitol Hill.
FOREMAN: The budget deal is going to be really interesting to look at because they are talking about cutting military spending now. Republicans
have never been keen on cutting the military, but you have to look at the backlash that's already occurring among American farmers who are saying,
wait a minute, some of what you're doing is hurting us.
People out there in health care jobs, people out there in education jobs, people out there working for the Park Service, people in the health
services. They are all saying, look, including a lot of Trump voters saying, hey, I didn't vote for this. I didn't vote for these kind of
impacts on my life and on my community.
Where it all lands, I don't really know. It is all happening so fast and in so many different areas. But this idea that somehow this is working out the
way it is planned, it seems incredibly chaotic. I mean, they cut jobs and then they've had to come back and say, oh, wait a minute a minute, we need
those people and then they try to bring them back in.
There is tremendous confusion among the people who are trying to deal with this. And I will say, one of the real questions here, Paula, you know, when
somebody says it won't be inflationary, the people are going to save the money, I don't know what drives that thought.
[16:15:13]
Certainly, as we came out of the pandemic, as there were pandemic payments to people, they spent them. That's what made inflation go up. It is one of
the things that made inflation go up.
So I just -- I really don't know, mainly, I just find myself looking at the math here and saying, I don't see how they reach this bottom line or this
solution that they have promised to people based on how it is adding up right now.
NEWTON: Yes, and that math, as you've just pointed out, is going to be very important to Congress because they are the ones that actually need to come
up with a budget that makes sense.
We are going to leave it there for now, Tom Foreman, but I am sure we will continue to discuss it. Really appreciate it.
FOREMAN: Good chatting, Paula.
NEWTON: Now, Germany is Europe's largest economy, and its voters will choose a new government this weekend. As the final debate between the
candidates gets underway, we will look at what's at stake.
(COMMERCIAL BREAK)
NEWTON: Germans will choose a new Parliament and government on Sunday, and this hour, the leading candidates are holding their final debate.
Now, according to the polls, the center right, CDU is on track to be the largest party. That makes its leader, Friedrich Merz, frontrunner for
Chancellor. Olaf Scholz's Social Democratic Party are trailing in a fight for second place with the far right, AFD.
Now, Germany's GDP meantime, can you believe this? It fell for a second year in a row in 2024. Its economic troubles are captured in the crisis
facing the manufacturing industry and the likes of car manufacturer, Volkswagen slashing jobs amid competition from China and that's coupled
with high energy prices and potential tariffs now from the Trump administration, that could make everything a whole lot worse.
Anna Stewart joins us now from London.
I mean, I encapsulated it there, Anna, but in terms of the German economy, it is really hurting and quite frankly really startling Germans themselves.
ANNA STEWART, CNN REPORTER: And it has been for a few years. I mean, German industrial production isn't just not back to pre-pandemic levels. It is
around 10 percent lower. And frankly, the old model of cheap energy and a really ready, ever expansive export market is just kind of broken at this
stage.
And you can take China maybe as a really good example of the shifting trade picture for Germany, this was the ultimate export destination. Not only is
it not that, but China is also now a major competitor when it comes to industry, particularly, of course, cars.
[16:20:13]
And economists also blame a lack of investment, particularly in infrastructure and too much regulation. This is something I was speaking to
business leaders about in Germany.
Thankfully, Paula, I have to say, from a sweet and chocolate conference, so quite a pleasant way to sample business sentiment. But this is what they
said in terms of what they want from this election.
(BEGIN VIDEOTAPE)
STEWART (voice over): From chocolate to popcorn and even a flavor of algae ice cream.
STEWART (on camera): It's green.
STEWART (voice over): Cologne has been taken over by sweets and snack firms from across the world. It is a chance to talk, to sell, and to try.
STEWART (on camera): Ooh.
This isn't just a feast for the taste buds, it is a snapshot of global competition. And while chocolate and sweets may take center stage at this
fair, underneath the sugar coating lies something more serious.
Two years into a recession and German businesses are craving change.
GUNNAR MUHLSTADT, CTO, ALGENWORK: I am really struggling with the situation because I am not happy with the situation.
SARA MARQUART, CEO, CHOVIVA: Like you noticed the regulations, the bureaucracy, like energy prices are high. It is very difficult to innovate
as well because there is a lot of hurdles.,.
GUIDO HENTSCHKE, DIRECTOR, PROSWEETS: It is really a driving thing, the regulations and it must stop. Come on, it must stop.
STEWART (voice over): A lack of investment, competition from China and rising energy prices have hit the famed German manufacturing industry
particularly hard.
CARSTEN BRZESKI, GLOBAL HEAD OF MACRO, ING RESEARCH: I think what the economy needs is a complete overhaul, and the answer might be that it is no
longer the traditional industrial powerhouses that we knew from the past.
STEWART (voice over): And with a new threat of tariffs coming from the U.S., change is needed quickly.
BRZESKI: If they do not manage to get growth back, if they mess it up once again, they know who is going to win the next elections, and this would be
the far right, AFD, and I think this scenario alone could be actually the glue that brings together all parties involved and that could also be the
motivation for the parties to think big and bold.
STEWART (voice over): Expectations for change are high at the Cologne Sweet Fair.
HENTSCHKE: I think it will change. The thing is how quick you can change things.
STEWART (voice over): And change is what is needed to win the hearts of German business --
STEWART (on camera): Look it.. Oh, it is a heart. Can I get one?
UNIDENTIFIED MALE: Thank you.
(END VIDEOTAPE)
STEWART (on camera): I mean, when you talk to small and medium-sized businesses in Germany, it is certainly an issue of it is, too costly and
too hard to do business. There is too much red tape, energy prices are too high.
Of course, when it comes to sort of the big multinationals, particularly looking at the big car firms in Germany, and this would certainly be off
the record, one of the big concerns now is tariffs on top of all of that, not least with 25 percent looming potentially come April, and President
Trump has Europe very much in his sights. He believes the relationship in terms of trade is very unfair -- Paula.
NEWTON: Yes, you can see Germany is top of mind whenever he is speaking.
Leave it to Anna Stewart, you could have gone and profiled machine tools, but no, it was it was sweets. I love it. Love it because it really was an
insightful snapshot as to everything facing that German economy and German voters.
Anna Stewart for us in London, thanks so much. Appreciate it.
Now switching gears here, from fire victims to journalists in Ukraine, people of all kinds are turning to the fundraising website GoFundMe. The
platform CEO joins me next to discuss it all.
(COMMERCIAL BREAK)
[16:26:41]
NEWTON: Hello, I'm Paula Newton, and there is more QUEST MEANS BUSINESS in a moment when creative control of the "James Bond" series was in the hands
of one family for more than six decades, not anymore. We will explain why some fans are unhappy about it.
And I will be speaking to the CEO of GoFundMe about how the site is helping people in Los Angeles recover from last month's wildfires.
Before that though, the headlines this hour.
Ukrainian President Volodymyr Zelenskyy says his meeting in Kyiv today with a U.S. Special Envoy was, in his words, productive. He hosted Keith Kellogg
a day after President Donald Trump urged Ukraine to make a deal with Russia fast. Mr. Trump also called President Zelenskyy a dictator, falsely blaming
Ukraine for starting the war.
Earlier today, the U.S. Senate confirmed Kash Patel as the new director of the FBI. Democrats unanimously opposed the controversial appointment. Patel
has denounced the FBI as part of the so-called Deep State. Democrats worry he will use the office to go after President Trump's critics.
Former Senate Republican Leader Mitch McConnell will not seek re-election next year. McConnell turned 83 on Thursday. He announced his decision on
the Senate floor. The Kentucky Republican has been in office since 1984. He has faced health issues in recent years and has clashed at times with
President Trump.
And we do get to some breaking news for you now: Israel has halted all trains and busses right across the country after reports of explosions on
several busses south of Tel Aviv.
Here you can see security forces gathered at a bus station. Police said earlier they are investigating the explosions as a terror attack. Prime
Minister Benjamin Netanyahu's office said he will hold a security assessment shortly.
CNN military analyst, Cedric Leighton joins me now.
And listen, you know all too well the capability of Israeli intelligence, but this is the Achilles heel, right? It is the soft targets that
especially given, you know, the heightened state of politics right now, it really is a risk.
COL. CEDRIC LEIGHTON (RET), CNN MILITARY ANALYST: It certainly is, Paula, and one of the key things is all of these soft targets like bus terminals,
the buses themselves, airport terminals, trains -- all of those things are going to be areas that are critical for police forces, and the Israeli
Intelligence Forces to keep an eye on.
And the domestic intelligence service, the Shin Bet is obviously involved in this incident, and that's why they ordered all the buses and the trains
to basically stop and have the drivers inspect the vehicles and to make sure that there is nothing that looks like a bomb on them.
But, clearly this shows that, you know, a terrorist attack can happen at any time, almost anywhere, especially if there is no advance warning of
that. And that is, I think, what we might be seeing in this case.
NEWTON: And yet going forward, this is going to be a tall order, right? I mean, we have seen this in the past few months, in fact, in the past few
years, a peace deal of any kind would certainly hopefully take down the temperature of this for all sides.
LEIGHTON: Yes, it certainly would be. It would be great if it would do that. But as you know, as we've seen in other situations when you,
sometimes have a peace deal or you're about to have a peace deal, there may be a faction that is opposed to that peace deal, especially among groups,
you know, like Hamas and other groups that have a similar ideological bent, and that could very well result in attacks being done to sabotage our peace
deals.
That maybe something that we could be seeing here at this juncture, but of course, it is ironic that this is happening very close to the transfer of
the bodies of the four Israeli hostages.
[16:30:38]
So, it is, you know, very, you know, very heightened sense of alert in Israel, I'm sure, as a result of this, but also, you know, clear indication
that the tensions in the Middle East aren't going away anytime soon.
PAULA NEWTON, CNN INTERNATIONAL ANCHOR: No, absolutely not. And how much do you believe that what is going on in the West Bank plays into all of this,
and especially the fact that many in the region do feel that the Trump administration right now would be favorable to more aggressive action in
the West Bank?
LEIGHTON: I think that it's certainly a big concern. I think it has a large role to play in this because the Palestinians, whether they're from the
West Bank or from Gaza, are going to, you know, deal with a sense of frustration. And they will also probably blame Israel and the U.S. for any
aggressive policies that the Israelis undertake, and that will result in things like this happening.
At least it's highly likely that there's a direct cause and effect relationship here. We want to be, of course, careful to make sure we
understand exactly where this came from since this is, you know, relatively -- a relatively new development. But the -- I think the indicators are
pretty clear that a more aggressive settlement policy in the West Bank, you know, more of a crackdown by the Israeli government on the Palestinians in
the West Bank and in Gaza.
That's going to definitely create tensions. And those tensions could easily boil over into attacks like this.
NEWTON: Yes, absolutely. I want to thank you for your insights as we continue to follow those developments in Israel. Appreciate it.
Now, staying in Israel, a somber day in Tel Aviv's Hostage Square as Israelis gather to mark a very painful homecoming. Hamas handed over the
bodies of four deceased hostages who were kidnaped on October 7th. The two youngest hostages, the baby Bibas brothers, and their mother Shiri among
them. And the family of one of the oldest hostages, Oded Lifshitz, has confirmed that his remains were returned today as well.
CNN's Nic Robertson has this report from Jerusalem now.
(BEGIN VIDEOTAPE)
NIC ROBERTSON, CNN INTERNATIONAL DIPLOMATIC EDITOR (voice-over): In a convoy freighted with the pain of a nation, the bodies Hamas says are the
youngest October 7th hostage victims and their mother on their final journey home. And in the fourth Red Cross vehicle, what Hamas says are the
remains of one of the oldest October 7th victims, Oded Lifshitz.
The early morning handover beginning against the backdrop of Hamas propaganda turning dignified with a short service as the four caskets
handed over to the IDF. A moment of closure beginning for the families and a nation hostage to the fate of the Bibas's.
Shiri Bibas's fear, clutching 9-month-old Kfir and 4-year-old Ariel, etched in Israel's collective memory. The young family from Nir Oz became icons
for hope over despair. Israelis riding an emotional roller coaster over their fate.
Worryingly, Shiri, Kfir and Ariel not released with 105 other hostages freed during the first pause in fighting November, 2023. Shiri's husband
Yarden's fate was also unknown. He too disappeared October 7th believed taken to Gaza. The first news of Shiri, Kfir and Ariel coming late 2023
when Hamas claimed they were killed in an Israeli air strike, releasing a propaganda video exploiting emotional sensitivities of Yarden blaming the
Israeli government for their deaths. The IDF called it psychological terror.
Months later, this security camera video captured by the IDF appearing to show Shiri soon after her abduction, but until this day, the IDF unable to
confirm the fate of the family, cautioning against Hamas statements.
When Yarden was finally freed by Hamas three weeks ago, everyone in Israel understood the heartbreaking news awaiting him. His father and sister
consoling him against the near certainty of his loss.
[16:35:08]
Along the convoy route Thursday, flag waving Israelis paid their respects. Hostage Square somber, not celebratory, as with previous releases. White
vans carrying the four on the last leg of their journey to a forensic institute for final identification. The country, the Bibas's and the
Lifshitzs fears closer to realization.
Nic Robertson, CNN, Jerusalem.
(END VIDEOTAPE)
NEWTON: Now, thousands of people in Los Angeles were displaced by last month's wildfires. Many of them have turned to the platform GoFundMe as
they try to rebuild their lives. GoFundMe is a crowdfunding Web site that allows people to raise money for various causes. The platform says it's
raised more than $250 million for victims of the L.A. fires so far, a quarter of $1 billion.
Tim Cadogan is with us now. He is the CEO of GoFundMe.
A quarter billion dollars. Incredible. And I have to say, as I've learned, the wildfires were personal for you. You had to run for your life with your
family, and yet you also had to manage this unprecedented donor surge on your platform. I'm really interested to hear about the lessons learned from
the last few weeks.
TIM CADOGAN, CEO, GOFUNDME: Yes, well, Paula, thank you very much for having me. Yes, you're right. The town that I've lived in for 20 years was
severely impacted in Altadena and of course the Palisades as well. I lived very close to the ignition point. So, yes, our company does what it does in
these moments, which is we're there to help people help each other. And within hours, we started seeing fundraisers created often by relatives or
friends of those who were displaced and lost their homes.
And that grew to over 10,000 fundraisers for families and some small businesses. And we've been able to help those fundraisers generate, as you
mentioned, $250 million actually more now, that is -- that really helps people get on their feet as they start to plan out the recovery path ahead
for them.
NEWTON: In terms of going back, though, to the lessons learned, given you were going through this in real time yourself, do you have a different
perspective on your own platform now?
CADOGAN: I do. I'd already worked on approaching 100 crises since I've been CEO, which has been five years. But to live through it so directly as a
victim gave me a real education into the level of stress that you experience when you're going through something like this and has driven me
and therefore the team to think even harder about how do we make it easier and feel more comfortable for people to ask for help in these situations
when there is so much load and burden on you.
It's already quite hard to ask for help. Most of us find that difficult, and to do that in a situation of such duress is very challenging. And so
we're sort of redoubling our efforts both in the product. And we've introduced a lot of features to help with that through A.I., but also in
the way that we approach the service, just to really give people that helping hand and help them through situations like this.
NEWTON: And that is certainly a very important part of the equation. I want to go to the other side, though, as well. Some people are reluctant to give
even if they really want to. Some wonder if that isn't the role of more formal charities or even the government. And we had heard that some people
receiving GoFundMe money actually were disqualified from getting FEMA government assistance during the wildfires.
I mean, again, what have been the lessons learned through all of that?
CADOGAN: Yes. Well, there's a few things to unpack right there, Paula. First thing is that the support that you're getting from GoFundMe is
support from your friends and family. And that's a really important supplement to what you're receiving from the government, of course, from
your insurance company if you're insured. You know, a good number of people are not sufficiently insured.
And it's also a supplement to what charities are providing on the ground. And we actually, through our software business, we supported a lot of the
primary charities. World Central Kitchen, for example, is a major customer, direct relief, which provides supplies. Pasadena Humane Society, housing
people's animals. So we support all of those organizations as well as providing the fundraising for individual families.
And then with regard to your point about FEMA, it's actually -- it's a little bit of an urban myth. In fact, the GoFundMe funds are for you to use
in whatever way you need. And as long as you're not duplicating what FEMA or insurance is helping you with, you're good to go. So that's really how
that works. It complements the support that you're getting from the government, insurance companies and other organizations.
And it also really allows people to show their care and love for you. I had a customer from the Palisades who lost both his home and his church, and he
told me a couple of weeks ago that my GoFundMe represents an unfathomable amount of love for me and my spouse, and that really speaks to the power of
what we do alongside those other major institutional or mechanisms.
[16:40:16]
NEWTON: It is such a good point you make, right? Because it's not just a dollar donation, it is people that are not forced to give to you but are
giving to you personally because they know that you're going through a hard time.
I do want to ask you again, though, that again to try and get through that reluctance that people have, there have been incidents where people have
been on GoFundMe and unfortunately it's turned out to be fraud. I understand a lot of these incidents are isolated, and yet how do you
mitigate for those? What have you learned in the last few years about really trying to make it absolutely solid?
CADOGAN: Yes. Well, we are, you know, I want to stress the vast, vast majority of fundraisers are good people asking for good causes. There are
always a few who are trying to work around the system as they are with any system in our world, and so we have 15 years of experience and over $30
billion raised. So our investment in trust and safety, the teams, the technology, the data we draw on from having those $30 billion raised, we
use all of that to identify any misuse that's occurring and to take those fundraisers down and refund the users.
And to back all of that up, we have something that only we offer in the industry, which is the GoFundMe global giving guarantee, which means that
any donation of any amount in any of our 20 countries for up to a year after donating is fully covered should there be a problem down the line.
Now, fortunately, because of all those systems I mentioned, that refund policy is invoked incredibly rarely.
But we work really, really hard to make sure that we're earning the trust of folks, and we will continue to work to make sure that everybody feels
comfortable both asking for help and giving help on the platform over time.
NEWTON: Tim Cadogan, I've learned a lot about your platform just in a few short minutes, and we certainly hope that it continues to bring a lot of
resilience to the people who need it most in disasters. Thanks so much. Appreciate it.
CADOGAN: Thank you. We're going to need it. Thank you.
NEWTON: Thank you.
Now coming up for us, it's simple yet effective. See how one biologist, pardon me, design is helping to protect endangered primate species in
Brazil.
(COMMERCIAL BREAK)
[16:45:25]
NEWTON: Brazil has one of the world's largest road networks, and it poses a growing threat to the more than 100 species of primates that live there. 40
percent of those species are endangered. Today, on "Call to Earth," we visit the southern fringe of the Amazon rainforest, where a pioneering low-
cost initiative is underway to help these animals travel from tree to tree.
(BEGIN VIDEO CLIP)
FERNANDA ABRA, LEADER, RECONECTA PROJECT: Brazil is the most biodiverse country in the world in terms of primates. Nobody has more species of
primates than us in Brazil, and we have the fourth longest road network in the world.
Of course, roads cause problems and impacts for primates. So right here it's very easy to see the capuchin monkey. So Reconecta is a conservation
project that aims to reconnect the Amazon rainforest and benefit tree- dwelling species to cross linear infrastructure safely, such as roads, railways and highways.
So we are creating a solution to reduce fragmentation and reduce road mortality. Building and installing artificial canopy bridges. So we have 32
canopy bridges already installed in the states of Amazonas and Roraima. And now we are expanding the project in Alta Floresta. So this is a city in
Mato Grosso state. And here we are installing seven new canopy bridges.
So the canopy bridges are part of the mitigation plan. But the program Alta Floresta (INAUDIBLE) now also includes the implementation of underpasses,
wildlife underpasses, associated with wildlife fences and wildlife crossing signs.
That's the most exciting part of the project when we turn on the camera and when we install them. For each bridge, we have two camera traps. So one of
the cameras are facing the bridge. So then we're going to see how many individuals and what species are using the bridge and what's their
behavior. So this is very interesting for science.
But the second camera looks forward to the forest. And I want to understand how many individuals come closer to the canopy bridge and cross and how
many don't cross. So understanding how many don't cross, maybe we can improve our design and then we can benefit more species.
Smaller mammals they prefer this type of surface. And on top of this one we have the steel cable with braided ropes. And this one is the preferred for
primates because they move like this. So this one is the one that goes on top. And it's going to be very used by primates that has the tail where
they hang the tail to improve their balance.
So every time I see the video of the monkey using my canopy bridge, it's wonderful because we are avoiding the situation of road mortality. Plus it
has more access to resources in the other side of the road. Access to more food, to water, to looking for other partners. So connecting the
population, we can make the population stronger.
So my vision for conservation is to make the road infrastructure of Brazil more sustainable for wildlife. And I believe that we can match the agenda
of infrastructure with the agenda of biological conservation. We just need to work together.
(END VIDEO CLIP)
NEWTON: Now. Let us know what you're doing to answer the call with the hashtag CalltoEarth on social media.
(COMMERCIAL BREAK)
[16:52:28]
(BEGIN VIDEO CLIP)
DANIEL CRAIG, ACTOR: The name's Bond. James Bond.
(END VIDEO CLIP)
NEWTON: Classic. Creative control of the "James Bond" series was in the hands of one family, one family, for more than six decades. Not anymore.
Amazon MGM Studios is taking over the franchise as part of a new deal announced today. Now, as part of the agreement, the Broccoli family who
originally brought 007 to movie theaters, it will remain as co-owners. The venture, though, means all future production will be led by the Jeff Bezos
founded company, and that's already stirring up excitement about who the next Bond may be.
Our entertainment correspondent Elizabeth Wagmeister has been following all of this for us, and we are wondering, right, what this could mean for the
Bond franchise and obviously all important, who the next James Bond is going to be.
ELIZABETH WAGMEISTER, CNN ENTERTAINMENT CORRESPONDENT: The most important question of all, for sure. But this is really big news. And this is a huge
business story because, as you said, creative control has belonged to the Broccoli family for over 60 years. And they have infamously been resistant
to give up any of that creative control, whether that means casting decisions or even marketing decisions.
So now with creative control, going over to Amazon, well, what is Amazon? Thats a major media conglomerate. And it's a business. So they are going to
be focusing on not just preserving the content and this iconic character and this iconic franchise, but how do you expand that and how do you make
more dollars and cents, right?
So you would imagine that this is not just going to be Bond on the big screen anymore. Could this mean that they are expanding the IP into
spinoffs and into series? If you look at what Marvel has done, is that what we're going to see in the future with the Bond franchise? And that is
something that the Broccoli family has been, again, infamously resistant to. But when you have Jeff Bezos and Amazon in the game, I think it's safe
to say that that all can change.
NEWTON: And a lot of this, though, will depend on who they can get to play the next James Bond. I'm sure there are lots of candidates, but do you
think that this can be an ever expansive franchise in a way that, as you just explained, the other owners just were not that much into doing
anything like that?
WAGMEISTER: It absolutely can be. But, look, any time that you take a beloved and iconic character, you also run the risk of upsetting the fans
and over franchising it.
[16:55:03]
But this is one of the most enduring franchises over generations of audiences. I mean, the Bond movies have made around $8 billion with 25
different films. So obviously the proof is there that this is a successful franchise, but now it is how do you continue to double on that success? And
a lot of that is going to depend on who is the next Bond, which of course is the question that you brought up, Paula.
Now, I have to tell you, Jeff Bezos, after this deal was announced today, he took to X and he posted, quote, "Who would you pick as the next Bond?"
So Bezos is already crowdsourcing and getting into the action, which is something that the Broccoli family would not have done. So it already shows
you how quickly things are changing.
And I have to tell you, the Henry Cavill fans have been flooding the comments on Bezos tweet, so they want him to play Bond. Now, some other
names who have come up over the years. Idris Elba, he has been rumored and asked about this role, I mean, for a decade now. Also, Aaron Taylor
Johnson, it was reported last year in "The Sun" that he was given the offer, but then it was reported elsewhere that he wasn't given the offer
and they downplayed it a bit. So possibly, you know, could be him.
And then also the big question is, could Bond be a woman? Lashana Lynch's name came up after she was in the most recent Bond film. So could Bond --
could that role really be revitalized and maybe go to a female actor?
NEWTON: I vote for two Bonds. Listen, they don't have anything in the pipeline right now. I say speed it up. Get it going.
WAGMEISTER: That's where we need the spin off, right?
NEWTON: Exactly. 100 percent. Elizabeth Wagmeister, thanks so much. Appreciate it.
And coming up, we will have the final numbers from Wall Street on what was a rough day on Wall Street. Stay with us.
(COMMERCIAL BREAK)
NEWTON: U.S. stocks pulled back amid uncertainty over tariffs and inflation. The Dow Jones tumbled 450 points. The S&P 500 retreated from
Wednesday's record close. Meantime, the Nasdaq fell nearly half of a percent.
Alibaba shares popped on its latest earnings, rallying 8 percent. That's incredible. In New York, the Chinese e-commerce company reported strong
international growth, and that was the key. CEO Eddie Wu said the company plans to invest heavily in A.I. over the next few years.
And that is QUEST MEANS BUSINESS. I'm Paula Newton. "THE LEAD WITH JAKE TAPPER" starts now.
JAKE TAPPER, CNN ANCHOR: This hour, a CNN --
END
