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Quest Means Business
Curfews Imposed In France For Second Night; French Student Union Urges Protesters To "Carry On;" U.S. Official: Witkoff To Visit Russia After Meeting Zelenskyy; A.I. On The Ballot; What To Know About SpaceX Earnings. Aired 4-5p ET
Aired October 20, 2026 - 16:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
[16:00:11]
PAULA NEWTON, CNN INTERNATIONAL HOST: So another display of market resilience here. I mean, the Dow up one percent. It is at its highest level
since mid-September, and a reminder, the S&P and the NASDAQ are also near all-time highs.
Those are the markets, and these are the main events.
Activists in France are preparing to resume their demonstrations. We will speak to the Vice President of France's main student union.
Albertans have voted overwhelmingly to remain part of Canada. The former chief-of-staff to Prime Minister Mark Carney joins us live.
And SpaceX is reporting their quarterly results any moment now. We will have a look at those numbers.
Live from New York, it is Tuesday, October 20th. I am Paula Newton, in for Richard Quest and this is QUEST MEANS BUSINESS.
And good evening to everyone. Tonight, after days of turmoil, France has now fallen quiet, but now protests are springing up in other corners of
Europe.
In parts of Paris, curfews will be taking effect for a second night, bringing quiet to the French capital after a weekend of violent unrest.
At Place de la Republique, one of the epicenters of last weekend's riots, cleanup is now underway. Crews have begun removing the graffiti scrawled on
the statue of Marianne, one of the republics most important national symbols.
Meantime, in Albania, where unrest has been simmering for weeks now, there were clashes between protesters and police overnight. Water cannons were
used to quell the crowds as demonstrators voiced anger over alleged government corruption.
And then there is Italy: 500 soldiers were deployed to Milan after days of looting and unrest forced businesses there to close. Now, a short time ago,
President Trump spoke about the unrest in Europe. He is blaming the riots in France on immigration, calling the protests there a revolution.
Listen.
(BEGIN VIDEO CLIP)
DONALD TRUMP (R), PRESIDENT OF THE UNITED STATES OF AMERICA: When I go to North Carolina today, I am going to be speaking about it, but Europe has to
change its ways or you're not going to have Europe left.
(END VIDEO CLIP)
NEWTON: Our senior White House reporter, Kevin Liptak, he is with us now. I mean, look, we have heard this not just from the President, but from the
Vice President at times. Is he using this example in any way as electoral leverage, or do you believe he really is just taking it to the Europeans
and highlighting their challenges right now?
KEVIN LIPTAK, CNN SENIOR WHITE HOUSE REPORTER: No, I think this is absolutely an opening that the President sees now two weeks before the
midterm elections in the United States, and I think the best example of that is last night in Kansas, when he was at a political rally before he
even arrived, they were playing clips of the protests in France on big screens for the crowd to watch, despite the arena being 4,700 miles away
from France.
And so the Republicans and President Trump, I think very evidently see this as an opportunity to seize upon as I think the political winds seem to be
pretty chilly for them now two weeks before the midterms, and you see the President in almost every public appearance now, calling attention to what
is going on there, to some, you know, admittedly very disturbing scenes from France, of fires, of graffiti, of stores being looted and warning
explicitly that that is what would happen if Democrats were to be able to regain their majorities in Congress.
He said if the Democrats were allowed to win that that's what would be happening in the United States. And so it is absolutely the President
trying to seize on this for his own political ends, and it is interesting to hear how his rhetoric has matched some of the rhetoric that you're
hearing from the right-wing parties in France, from Marine Le Pen and Jordan Bardella, the leaders of the National Rally, who also say that this
is evidence of uncontrolled immigration despite, you know, no real evidence that the people who were responsible for the violence were undocumented
immigrants or immigrants at all.
And so how this goes forward and whether this will have a real effect on American voters, I think, remains to be seen. Obviously, polls have shown
that most American voters are more concerned about the cost of living in the United States, about inflation concerns.
President Trump has kind of shrugged those concerns off, but it is obvious, I think, that he thinks that this could be perhaps what changes his
political fortunes amid some pretty dire prospects for Republicans here in the U.S.
NEWTON: Yes, Kevin, you mentioned the distance between that rally and France. It is kind of not exactly top of mind for voters in the places that
he is going to, given so many dealing with affordability issues or even the farming issue.
We will leave it there for now.
Kevin Liptak, good to see you. Appreciate it.
[16:05:03]
Now, the French government is preparing to deploy troops as more demonstrations are planned for this coming Saturday. France's main student
union, UNEF, urged student protesters to carry on in social media posts after last week's protests.
Student activists are pledging to keep the pressure on President Macron's government to fix what they say is a broken and underfinanced education
system.
Alice de Brito is Vice President of UNEF, and she joins me now from Paris this evening.
It is good to have you on the program, because so many of us are wondering about how you feel about the violence that we saw over the weekend and the
fact that, given the expansion of the protests, did it overwhelm or even really distract from the demands that so many student groups have?
ALICE DE BRITO, VICE PRESIDENT, UNEF: Well, thank you so much for this time. So obviously, about the violence that happened last week, we really
are sorry about what happened, because what we are saying since the beginning of this mobilization is that our organization stands for pacific
mobilizations all across the country.
And so we've seen people looting, writing things and all of that. But we also want to say that the violence comes first from the government because
the real violence is being high school students that are 14 or 15 losing their arms, their legs, their eyes. The real violence is seeing students
and people in general not knowing how they are going to pay the rent at the end of the month or how they are going to eat.
And so we just want to say that and yes, we ask the students to continue -- to continue to put pressure also because of the events of last weekend, no
one is talking anymore about why students have been on the streets for a month now, when at the beginning of the month, everyone was talking about
what we wanted and what were our demands.
Now, everyone is just talking about violence, even the government, we had the President speaking on Monday. He didn't have a word for the students
that were on the street for months. He only talked about violence and the need of order in the country. And so we just really, really want everyone
to understand that we need to separate these two groups of people, and that the students have been fighting for months.
And in reality, they have been fighting for nine years because every year we come back, we just say the same things. We demand the same things and we
need to be heard and we will not stop until we are heard.
NEWTON: So Alice, what you are saying though, really does make a fine point of it. You do have competing interests with the other protest groups that
are on the street, and I am just going to point out the obvious. We have discussed here the French financial problems and the debt pile that people
have been talking about.
You, yourself, you're competing with resources. The younger generation with other demographic groups in France that say as, for instance, we will not
work longer. We would like our retirement to stay stable. I mean, how do you think all of that plays into the demands and whether or not you will
get what you want from any French government?
DE BRITO: Well, we don't think we are in competition with people who don't want to work later, because actually we don't want to, uh, either. We think
that the money exists and actually, we need our government to understand and the people to understand that the choices that they make are not just
choices or where they get the money, there are political choices and we know, for example, that every year in France, we give 211 billion of money
to big enterprises that just have some influence in the French world without any conditions, without any giving from them.
This money could be financing reforms. They can be financing hospital care. This could be financing educations. And now, we just have a government that
for nine years has made the choice to not invest in these public services and to just invest in the Army, in the enterprises, and we need them to now
put the money on the table for the public services, for the education, for the hospitals, for everything that need it, because now we have a really --
a real break in our public services, and we have people that can't go to the hospital because there isn't enough medical care.
NEWTON: I understand.
DE BRITO: That is where we need to put the money because we know that it exists, and this is just choices that the government needs to make.
[16:10:10]
NEWTON: Understood. Alice, help us understand if there is any partisan nature to this, because Marine Le Pen and the National Rally Party have
been saying that students like you would fare better.
Do you fear that this will actually come down to a very partisan fight, or is this what the French government and institutions writ large, it doesn't
matter the party.
DE BRITO: No, no, no. We don't think it is partisan, actually, every time that the youth has been out in the streets for decades in France, everyone
has been saying that the young people are instrumentalized or used by a political party and we just want to say that the youth doesn't need anyone
to organize them. They youth doesn't need anyone to tell them what to do, to tell them what to think, they know what they are living, and they know
what they want.
And now we have the government and some political parties that talk about the use of being partisan of some political parties and we know that for a
fact is not true.
We think that saying this is to one thing, saying that the youth are just a child that can't think for themselves, and the second thing is that it is
putting away the debate on what the youth wants and just putting it on display for some political dispute that they are having and we don't want
that. We just want them to hear us, sorry, and obviously the youth has never needed a political party to help us organize ourselves and to think
for ourselves and to see what we are living.
NEWTON: Alice, I want to thank you for being here, and we have heard your arguments, and you certainly helped us to understand much better your
movement and what we will see in the days to come. Thanks so much. Appreciate your time.
DE BRITO: Thank you so much.
Now, U.S. Special Envoy Steve Witkoff is making the rounds amid a new push to end Russia's war in Ukraine. He met in Norway with Ukraine's President
Zelenskyy and is said to be traveling to Moscow next. More on his shuttle diplomacy with Jim Sciutto who is up with us next.
(COMMERCIAL BREAK)
[16:15:06]
NEWTON: U.S. Special Envoy Steve Witkoff is expected to visit Russia tomorrow to seek an end to its war with Ukraine.
Now, a U.S. official says Witkoff hopes to meet with Russian President Vladimir Putin and present some ideas developed in consultation with
Ukraine and Europe. Witkoff spoke today in Oslo with the leaders of Ukraine, Norway and Finland.
Back in Washington, U.S. President Trump was pointing the finger again directly at Ukraine.
(BEGIN VIDEO CLIP)
TRUMP: Ukraine has to want to settle this war. Zelenskyy has to want to settle this war. And if he doesn't, I think it is going to be a very bad
thing.
Look, we have given tremendous amounts to Ukraine. We've got nothing back other than high diesel. We have given probably possibly more money to
Ukraine than almost anybody over the years, hundreds of billions of dollars. We've gotten nothing back, and the American taxpayers are tired of
it.
We want Zelenskyy to make a deal. He can make a deal. He could have made a deal two years ago when we had our little chat in the Oval Office.
(END VIDEO CLIP)
NEWTON: And we remember that chat in the Oval Office.
U.S. Secretary of State Marco Rubio also spoke today with Ukraine's president. Zelenskyy described their 45-minute call as a good conversation
and said he hopes to follow up in the next couple of days. He also addressed questions about U.S. intelligence sharing and whether it was
still ongoing. Listen.
(BEGIN VIDEO CLIP)
VOLODYMYR ZELENSKYY, UKRAINIAN PRESIDENT: We are thankful that Intelligence works now. I am speaking about early warning -- what is very important for
our people, for our children and our civilians, because we can hear when ballistic is coming, so we are thankful to American side. Now, it works. It
is great.
(END VIDEO CLIP)
NEWTON: "It's great." Jim Sciutto joins us now from Washington.
I mean, Jim, you've got the tough task now to kind of tell us what the heck went on here in the last 24 hours. We have been down this road so many
times before. Is there any there, there in terms of there actually being a deal on the table, or do we just end up again against the brick wall that
is Vladimir Putin?
JIM SCIUTTO CNN ANCHOR AND CHIEF NATIONAL SECURITY CORRESPONDENT: Ukrainians have to be very worried with how President Trump describes the
state of this war and the state of the negotiations. As usual, he puts the burden on Ukraine for ending the war that began with Russia's full scale
invasion to absorb the entire country. Right?
He will not articulate that Ukraine is defending itself against an ongoing Russian invasion, and when he frames it, as we gave them all of this, and
by the way, his numbers are not accurate. The U.S. has not given $350 billion in military assistance, but set that aside for a moment and got
nothing in return, he doesn't acknowledge that the U.S. gave such assistance to help Ukraine defend itself. Right?
He purely makes it transactional as to, you know, we are getting higher diesel prices, right? Which, as you know, and you've talked about this on
your show and, and I on my show that in fact, the largest portion of those higher diesel prices are the result of the Iran War.
So the President's framing is not fact-based, but it also shows a lean away from Ukraine and towards Russia, and that's what Ukrainian officials fear
that the U.S. President wants to end this war now on his terms, and certainly closer to Russia's terms, and not Ukraine's terms. And they fear
that they're being pressured to do so.
And they see, as part of that pressure, the suspension of U.S. Intelligence sharing, and it was notable to see Zelenskyy say there, okay, the
intelligence is back. That presumes that it was indeed gone, right, which Ukrainian officials told me, as I reported and others have reported as
well, slower Starlink, fewer early warnings of incoming ballistic missiles, which Marco Rubio denied. But again, the Ukrainian President is saying
there it is back, which is to say that it was gone for a period of time, which from Ukraine's perspective can be measured in lost lives, right? The
people died as a result of the lack of that early warning.
So, the framing is not in Ukraine's favor, and the recent history has shown us that Russia has repeatedly shown no interest, not just in the
settlement, but in a ceasefire. So why does the President -- why is the President convinced that it will be different this time? We don't know.
But recent history has shown us that it is Russia that stands in the way.
NEWTON: So, Jim, look, you're in Washington, but I am also going to lean on your international experience. So we've got these midterms coming up. We
have heard from so many GOP candidates, but also Congress people and senators saying, look, we support Ukraine. We don't understand what the
President is doing here. Can they be effective in any way, either leading up to the midterms or the day after when in January, the Democrats may
take, you know, either the House or the Senate or both.
[16:20:10]
SCIUTTO: They can't do anything before the elections because the House Speaker has put them on recess until after the elections. There are
lawmakers, Republicans and Democrats, who would like to go in there and vote to do something. But they're not -- they are just not going to be
present here, and they're not going to be doing their jobs, sadly between now and then.
If they were to get majorities in the House and perhaps the Senate, or if some combination of pro-Ukraine Democrats and Republicans can get to a
majority, it is possible they could pass legislation to force the President's hand here. But as you know, Paula, in the last couple of years,
Republicans, it is only really a handful that will differ with the President publicly. They've been willing to tweet it or say it on a Sunday
talk show, but not necessarily to back it up with a vote.
Sometimes they do, and they did on the Lindsey Graham Bill. But of course, the President just swept that aside. So, there are a lot of steps between
the criticism we are hearing now from some Republicans and actual action that would force his hand or change U.S. policy, and that's a big gap. So
we'll see if we get from here where we are right now to a lot of talk and no action to actual action.
NEWTON: Yes. And again, so much of that is likely to depend as well what they hear from their own voters as they're out campaigning now.
Jim Sciutto, always grateful to talk to you.
SCIUTTO: Thank you.
NEWTON: You will have your show, "The Brief" in a little over an hour-and- a-half from now.
SCIUTTO: That's right. Thank you.
NEWTON: Now, Albertans have voted overwhelmingly to remain part of Canada. The vote was non-binding, but it did send a clear message.
About three in four voters opted not to hold a referendum on whether or not to secede from Canada. The result is a major boost for Canadian Prime
Minister Mark Carney, who said Albertans had made "a clear choice."
Now this movement, a fringe movement to leave Canada, was supported by some members of the Trump administration. However, a rising tide of patriotism
and unity emerged as the country rallied against Donald Trump's tariffs and annexation threats.
Marco Mendicino joins me, he is a former chief-of-staff to Prime Minister Mark Carney and a former Cabinet Minister in the Trudeau government, and he
joins us now from Toronto.
Marco, good to have you on the program. I am glad to talk to you.
The last time I spoke to you, I was badgering you for an interview with Mark Carney on behalf of CNN, so please forgive me. Full disclosure --
MARCO MENDICINO, FORMER CHIEF-OF-STAFF TO PRIME MINISTER MARK CARNEY: No need to apologize.
NEWTON: Oh, there you go because we are still looking for another interview, by the way.
So listen, you have a tough job right now. You need to explain to the rest of the world who is not Canadian, you know what your takeaways are right
now if you were in either of your old jobs, right? If you were either sitting there as a chief-of-staff to Mark Carney or as a Cabinet Minister,
because there were more questions in this referendum, and a lot of them had to do with things like more powers for the provinces, but a lot of it
focused on immigration.
MENDICINO: Sure, and putting on my old hat for a moment, I would reinforce that the results from the Alberta referendum was clear, decisive and
unifying.
Let me just lay out some of the key stats for your viewers. Nearly two million Albertans voted yesterday. More than 40 percent of them actually
voted in advance polls, 76 percent voted to remain in Canada, which is indeed definitive. That's more than three out of four, as you said.
So politically, this is an important moment for the Prime Minister, which is not to say that there aren't regional grievances coming out of Alberta
in the west, and let me just outline what some of those grievances were.
Too much red tape, policies that kill projects, energy projects, specifically before shovels could get into the ground; federal overreach,
but I think even more transcending those issues, it was about livelihood, respect, and being able to control your own destiny. And I think that the
Prime Minister really answered those questions by doing a few things. He introduced new policies to accelerate the approval of energy projects. He
reset the relationship with Premier Danielle Smith, and for those partizans who are watching there on, you know, classically opposite ends of the
political continuum, and most of all, he showed up.
He visited Alberta some 11 times in the last year and a bit, and what I think it demonstrated was a real intent to repair the relationship, but
also to show a path forward. And I think that yesterday's referendum result shows that Albertans overwhelmingly supported the path that has been
offered to them.
NEWTON: And I appreciated today that he said that, look, we could do this constitutionally, but that would take a long time.
I do want to refer to that Mark Carney pedigree that you're talking about. I think we have some video of him playing with the Edmonton Oilers. I mean,
look, he, as a leader of Canada, went into these rallies. This was his home. It is where he grew up.
And he spoke with an authority that few Canadians can speak with. Unless you're an Albertan, right, Marco, we can see him right now with that Carney
shirt, 24 from the Edmonton Oilers.
[16:25:05]
But -- and while perhaps many Canadians will appreciate that pragmatic side, you know, it is kind of puzzling, Marco, because we are talking about
decreasing immigration, something that is basically Canada's brand in terms of immigration, but also what you just mentioned, right? All of those
energy projects. That's coming from a man who was the U.N. envoy on the environment.
So I am wondering here, why has his pragmatic side winning out so much? Is it because he really has no choice in the matter, given the context both in
Canada and beyond?
MENDICINO: Well, I think it demonstrates that the Prime Minister is laser focused on the economy right now. And I am glad you showed those images of
him wearing the jersey, because, you know, despite the focus on business and the economy and his credentials are really second to none, as a former
Central Bank regulator for both Canada and England, as somebody who has worked with some of the leading financial investment houses around the
world, people really do put a lot of stock and weight when it comes to his economic agenda, which has been energy focused and that is not a binary
choice when it comes to promoting responsible climate policies.
But just to come back to the central topic today, you know, he understands that Canada can play a constructive role when it comes to providing energy
for our partners and our allies around the world, and there is no greater customer to us than the United States.
We provide roughly 4.5 million barrels of oil to the United States every day. We provide diesel, which has been the subject of intense debate in
your country to the United States, which helps to haul and ship our goods. It helps farmers get food on the table.
I mean, this shows the value of the strategic partnership, which is, I think, a real motivation when it comes to our broader trade relationship.
So yes, that I think is the balance that he is striking.
NEWTON: Okay, Marco, I hear you. But right now there are still no trade deal with the United States. Now, look, Donald Trump was not on the ballot,
but his rhetoric certainly was. And now we hear again that, in fact, Canada is as a topic and those tariffs making it on the midterm ballot.
I want you to hear now from Senate candidate Abdul El-Sayed in Michigan and what he said about this. Listen.
(BEGIN VIDEO CLIP)
ABDUL EL-SAYED (D), MICHIGAN SENATE CANDIDATE: I mean, if you're picking a fight with Canada, Canadians are the only people I know who preemptively
apologize. I am sorry. You didn't even do anything.
So if you're picking a fight with Canada, you're the (bleep)!
(END VIDEO CLIP)
NEWTON: Marco, as much as we may appreciate the humor there, look, it comes to a serious point and I know that this has a concerted effort. We had the
U.S. Ambassador in Canada warn and threaten even Canadians about getting involved in the midterms, but here we are.
I am wondering, do you believe if the Democrats take the House, that a trade deal between the United States and Canada is now more likely past the
midterms?
MENDICINO: Well, I think like any responsible government, we are going to work with the President. We are going to work with Congress, however you
choose to elect it going forward, and I think the reason why Canada is coming up is that there has been, I think, a fair comment and criticism
around tariff policies.
I mean, we in Canada are concerned that tariffs have had a direct impact on areas in which we cooperate. So, let me take auto as a prime example. I
mean, we build and I just say this for, you know, just to be simple about it, roughly a million cars every year.
I mean, since the tariffs have been put into place, you've seen U.S. sales to Canada decline by some 20 to 30 percent. You've seen losses ranging from
$7 billion to $8 billion to the big three in Detroit, Michigan. I mean, this is also personal for me. I've got family in Windsor right across the
Detroit River, people who work hard along with American workers, so that's why it is coming up.
And we maintain in Canada that if you want to address affordability, if you want to see cost of living come down, then there is no greater way to do
that than to negotiate a reasonable deal that is mutually beneficial between both countries.
NEWTON: Yes. Marco, look, I don't have a lot of time left, but bottom line, do you believe if the Democrats take the House that Canada has a better
chance of getting a trade deal?
MENDICINO: Bottom line is we are going to work with whoever you choose to elect, and we are going to work -- we are going to do so in good faith and
constructively, and that's me doing a bit of my old job there.
NEWTON: We shall see, because right now, in fact, in the United States, you hear much more talk about getting a trade deal with Mexico and not Canada,
not anything I think the Carney government wants to hear.
Marco Mendicino, I appreciate it. Please come back as again, we try and explain Canadian politics to the rest of the world. Appreciate your time.
MENDICINO: You bet. You bet.
NEWTON: Now, after the break, just two weeks away from the U.S. midterm elections and millions have already cast their ballot. We will talk with a
former tech CEO backing candidates in favor of strong A.I. regulations.
(COMMERCIAL BREAK)
[16:33:06]
NEWTON: Now, the U.S. midterm elections are now just two weeks away, and millions of Americans have already cast their vote. CNN data showed
Democrats in battleground states making up a larger share of the early turnout thus far than 2024.
Whoever controls Congress will, of course, help shape A.I. regulation and A.I. safety groups are working to get their candidates elected. Axios
reports they've already spent $48 million on the midterms. Now this money is notably coming from people who work in tech. That includes Guardrails
Alliance, an advocacy group that has raised nearly $12 million.
Chris Hyams is a founding board member of Guardrails Alliance, and he's also the former CEO of the job site Indeed.
And good to have you on the program. I mean, listen, from what I've learned, you're fighting both Democrats and Republicans in competitive
districts. Do you have evidence that the money that you've poured into this is making any difference? Because, just to be blunt with you about it, this
isn't Musk money.
CHRIS HYAMS, FOUNDING BOARD MEMBER, GUARDRAILS ALLIANCE: Yes. Thanks for having me, Paula. So A.I. is not on the ballot, but I think it is the most
consequential decision that is happening right now on November 3rd. And there is a group of ai billionaires, some of the richest and most powerful
men on earth, who are pouring millions and millions of dollars into buying the midterms in support of their agenda of preventing A.I. regulation.
In Guardrails Alliance, we are a independent political project. We're backed by civil society. So not just A.I. safety money. We have labor
unions, we have civil rights organizations, teachers, tech workers as well, who all believe that the rest of us should have a say in this
extraordinarily consequential technology and the money that is being spent by the A.I. billionaires we do not have to match dollar for dollar.
[16:35:06]
Our focus as Guardrails Alliance is explicitly in helping voters understand that political donations always come with strings attached. And what we're
trying to do is simply follow the money and point to where that money is coming from so voters can be informed when they're making decisions on
November 4th -- November 3rd.
NEWTON: Yes. And given that so many of you come from the tech industry in one way or the other, I'd imagine you have a lot of credibility with
voters. You call this the oldest story in business, right? The billionaires want no guardrails, but I'm wondering what happens if there is no material
change in Congress? Because at this point in time, we see a lot of inertia. There's a lot of talk about A.I. guardrails, not a lot of action.
HYAMS: Yes. This is an extraordinarily consequential set of decisions that are being made right now. And if you look at just social media, which is, I
think, something that we can all connect with the history of, and look at the ability, if we could have gone back in time, 20 years, to make a
different set of decisions.
When we see what's happened with Meta and this $17 billion settlement, which is only scratching the surface of the real world and understood
harms, my belief is that A.I. will make social media look quaint in terms of the potential impact. And so I think it's incredibly important for all
of us. And look, as a tech CEO, I can say with 100 percent certainty that technology companies, really any powerful company, cannot be trusted to
police themselves.
A.I. is the most consequential technology, not just of our lifetime, likely ever. And if it is really going to impact all of society in the way that we
believe it is going to, then everyone should have a say in that, not just a small handful of billionaires who are the ones who are going to profit from
controlling these decisions.
NEWTON: And again, I'm sure that your message resonates with a lot of voters. I guess I'm wondering, given so many people on the inside support
your cause, a lot of people have concentrated on data centers and on a lot of states that are already wins on that, either a moratoria or like here in
New York state, there's a pause.
What else, though, do you believe needs to exist? Because that hasn't been very well-articulated.
HYAMS: Yes. So right now, the biggest talk in D.C. is around regulating against. So A.I. safety specifically means protecting against the
existential risk. This question of, will A.I. lead to the end of humanity? There are many, many more significant issues that people all over the
country are focused on. If you look across 40 different states have regulated A.I. in the past few years, and if you look at the most common
themes, number one is protecting kids.
People are deeply concerned, especially because of social media, of the impact of A.I. on their kids. People are extremely concerned about jobs,
and I think that they should be. They're concerned about A.I. presenting the tools for authoritarian regimes, things like mass surveillance or the
possibility for disinformation. So I think that there's a broad set of issues that Americans are concerned about.
And the good thing is, for the first time, instead of focusing just on individual issues, what we're seeing is a real coalition of all the people
who agree on one thing, which is that tech companies should not be left to regulate themselves, and that there needs to be a broad democratic process.
And I am hopeful that, especially if we see a change on November 3rd, that both sides of the aisle can come together and work on these real issues.
NEWTON: Yes. And we'll continue to watch because there is definitely a preoccupation among all voters about what to do, you know, with A.I. and
A.I. regulation.
Chris, really grateful to have you on. Thanks so much.
HYAMS: Paula, thanks so much for having me.
NEWTON: SpaceX just out with its third quarter earnings. Speaking of Musk money, the rocket and satellite company reporting more than $14 billion in
revenue and net income of $4.4 billion.
For more on all the numbers, I can assure you Clare Duffy is all over them.
OK. In terms of expectations, valuations, what are the results? Tell us.
CLARE DUFFY, CNN TECH CORRESPONDENT: Yes. Paula, this is, as you know, SpaceX's second earnings report as a public company. And they have just
blown Wall Street's expectations out of the water here on both revenue and net income. That net income number you said $4.4 billion, that is up from a
net loss of $1.1 billion in the year ago quarter. So really a significant turnaround.
And I think the headline from this earnings report, SpaceX is known as a rocket company. But the biggest driver of its business at this point is
artificial intelligence, or as the company is now referring to it as superintelligence. They saw significant growth in their A.I. business by
renting out Cloud space to other A.I. companies. The acquisition of A.I. coding startup Cursor, which the company said contributed $608 million in
revenue during the quarter.
They also saw a boost in Starlink subscribers, which benefited the connectivity business.
[16:40:04]
Starlink subscribers growing 88 percent year on year. And so really, across the board, SpaceX posting strong results here. Now, the question going
forward for this company is that this is a really capital intensive business. Building rockets is very expensive. Building A.I. data centers is
very expensive. The company said that it spent nearly $19.6 billion in capex during this September quarter. That is almost three times what it
spent a year ago.
And so I think that is what investors will be hoping to hear more about on this call. Can these business gains keep up with the amount of money that
this company is having to spend to build out the infrastructure for this business, Paula.
NEWTON: And Clare, as you're speaking, we see that an extended hours, the stock is up a bit. I'm sure many people are waiting for this call. I'm
wondering, though, again, because investors are expecting that perhaps the Tesla part of the company will merge with the SpaceX part of the company.
And I'm sure they'll get another question on that.
DUFFY: Yes, I think that is a really interesting question. You know, we have seen Elon Musk trying to bring together his business empire, SpaceX,
prior to its IPO earlier this year, acquired xAI, the A.I.-S.I. company. And so I think it will be really interesting to see what they have to say
about the possibility of acquiring Tesla. That is a much more mature business in many ways than SpaceX and the A.I. side of this business.
And so it will be interesting both to hear what they have to say and also how investors are going to react to that possibility.
NEWTON: And we will wait to see. Always entertaining. And it's a new stock so we'll see what the comparables are and what they have to say about the
outlook going forward.
Clare Duffy, thanks so much. Appreciate it.
DUFFY: Thank you.
NEWTON: Now Wall Street closed mostly higher led by gains in health care stocks. The Dow gained 529 points trading most of the day in a very narrow
range. In fact, most of the increases were in health care. 3M up 5.7 percent, lifted its full year profit forecast during today's earnings call.
And yesterday it announced an A.I. data center deal with Amazon. Amazon shares, meantime, ended fairly flat.
Also, that health care spike was with UnitedHealth, Merck and Amgen all up over 3 percent. Alphabet and Apple, you see them there on the bottom, down
about 1 percent. It was after somebody announced a downgrade. Some investors were looking at a downgrade of Apple stock.
That is QUEST MEANS BUSINESS. I'm Paula Newton. "Quest's World of Wonder" is next.
(COMMERCIAL BREAK)
[16:45:36]
RICHARD QUEST, CNN INTERNATIONAL ANCHOR: It's time to embrace new adventures.
This is magnificent.
Seize the moments in this "World of Wonder."
Good grief.
SOPHIE HAY, ARCHEOLOGIST, POMPEII ARCHAEOLOGICAL PARK: This is where you feel like, I'm in a city.
QUEST: Gosh, yes.
(Voice-over): It is my first visit to Pompeii and I'm totally gobsmacked.
Wow.
(Voice-over): This ancient city is only 24 kilometers outside of Naples.
HAY: These stones that we are kind of trying to avoid.
QUEST: Yes.
HAY: These are stepping stones for the pedestrians.
QUEST: So this would have been the --
HAY: The crossing point.
QUEST (voice-over): The archeologist Sophie Hay has spent decades studying Pompeii.
HAY: I often hear guides say that these artists stop the traffic going too fast. They're like little road humps. Absolute rubbish. Look at the state
of the roads. You do not need to stop carts going full pelt because the roads are already quite difficult. And in fact, you can -- but you can see.
QUEST: You can see the tracks.
HAY: These ruts, exactly where the carts actually have to start breaking. And what I love is that you can start hearing the Romans at this point. You
can hear that clatter of the carts.
QUEST (voice-over): If I'm very still, I can imagine the thriving Roman city that was Pompeii 2,000 years ago. So what exactly did happen in 79
A.D., when Vesuvius erupted and threw out pumice and ash?
HAY: This is what rained down on the poor Pompeians. And this is how it starts. And it goes on for 18 hours.
QUEST: Right. But that's -- at that point you've got a chance to get away.
HAY: Yes, exactly. You've got 18 hours in which it is still possible to leave. But it didn't politely stop at the walls of Pompeii and say, that's
enough. It flooded this entire valley. They've never seen anything like this before. There's a column of ash coming out of that volcano. It sort of
blocks out the sun.
QUEST: Yes, that's a good point.
HAY: So it's dark. The world has just collapsed, so they don't have a clue that it's a volcano. They have no sense. To them it's just --
UNIDENTIFIED MALE: It's so light.
QUEST: Yes. But imagine that going on for 18 hours.
(Voice-over): The result we know, was a city frozen in time.
HAY: But let's say if there's going to be a benefit from that horror, we are now standing in the middle of it and able to look at the Romans in a
way we had never been able to look at them.
QUEST: Look at this.
(Voice-over): Sophie has brought me to a recently excavated part, not yet open to the public.
HAY: You consider this is just the dining room. Most houses in Pompeii would fit into this room alone. And then you've got these beautiful
frescoes. We've got a scene from the Trojan War. They use their homes as a way of sort of showing you who they are, how impressive they are.
QUEST (voice-over): In other words, very wealthy.
HAY: Got the blue room where we think it may have been even a sacred room because we have these little niches where there could have been little
statues.
QUEST: Too extraordinary.
HAY: And then through here, this is his private bath complex. This is the original Roman lead pipe. So this is coming from the aqueduct straight from
the street. It goes underneath this floor, out through the door onto the road.
QUEST: Mindboggling. Completely mindboggling. Can't take it in. 2,500 years old. A pipe with running water.
(Voice-over): They also had working fountains and gutters on the roof and in the roads.
The level of sophistication of advancement, we then seem to have lost in the Middle Ages. That's what I find really mindboggling.
(Voice-over): There are still large tracts, about one-third of this ancient city that remains unexcavated, and that is by design.
HAY: We need to keep this for future generations. So if you think about everything that we've learned through technology, even in the last 20
years, imagine what they're going to think and do in 100 years.
[16:50:04]
QUEST: I'm going to take you back to 79 A.D..
HAY: One thing I would like to do is go and meet the barman whose house I worked in and excavated. I found his donkey. I found his dog. I'd love to
go and meet him.
QUEST: Imagine I am him.
HAY: All right.
QUEST: What are you asking me?
HAY: Why did you get an amphora from Gaza? What was in it? Why is it in your home? It's the only one we know of in Pompeii.
QUEST: I'm not telling you. Now go back to 2026.
HAY: Exactly.
(COMMERCIAL BREAK)
QUEST: Naples doesn't like to rush too early. In the morning, take your time. That is, unless you're wanting to buy a tie. Yes, you heard me right.
A tie in a city where hardly anyone is formally dressed.
E. Marinella opens at 6:30 every morning and it's packed elbow to elbow. There's always room for one more, especially for a grabatologist like me.
Yes, the word does exist. Look it up.
That's a go-to. Good evening. The headlines tonight. Beautiful.
(Voice-over): Maurizio Marinella carries on the traditions that his grandfather started here 112 years ago. Luxury ties with exclusive fabrics,
each one handmade in the workshop.
MAURIZIO MARINELLA, THIRD GENERATION TIE MAKER (through text translation): The tie used to be worn all the time. Nowadays, the tie signifies a
university graduation, a romantic date.
QUEST (voice-over): Marinella's ties have throttled the necks of royals and heads of state galore. Now it's my turn.
Nice statement tie. Too busy. Too busy. Yes, I agree. You see, the blues are the stun. Oh, look at that.
MARINELLA: I prefer this one.
QUEST: The green one and the orange.
MARINELLA: But the perfect number is three.
QUEST (voice-over): It is a simple choice that has me in turmoil.
Oh, I don't know.
UNIDENTIFIED MALE: Man, it's just a tie. Pick a color.
QUEST: The green.
MARINELLA: another one. Three. Two and three. I am happy.
UNIDENTIFIED MALE: So am I.
QUEST: If you're happy, I'm happy.
All right. So this is called a?
MARINELLA: (Speaking in foreign language).
QUEST (voice-over): Maurizio puts me in a half-Windsor. I prefer the full version.
MARINELLA: (Speaking in foreign language).
QUEST (voice-over): Ha! Apparently my Windsor is too complicated.
MARINELLA: (Speaking in foreign language).
QUEST (voice-over): Naples is unapologetic in its traditions, its identity, and of course, pizza, pizza, pizza. Whether it's fried, folded, or classic
Neapolitan, Naples has bragging rights, this is pizza's hometown.
[16:55:00]
QUEST: This is perfect. Right.
(Voice-over): I'm in the kitchen of 50 Kalo, a pizza hotspot that has locals lining the sidewalk.
Right. Where do we start?
(Voice-over): Third generation chef Ciro Salvo is showing me the Napoli way.
What are you doing?
(Voice-over): A push here, a flip flop there.
Oh, no, no, no, you're going too fast. Too fast. There was no throwing in the air? You mean I don't have to go?
CIRO SALVO, OWNER AND MASTER PIZZAIOLO, 50 KALO NAPOLI: Well, there was this one.
QUEST (voice-over): Only for the circus, he tells me.
I have no idea what's happening. I'm just a passenger. Ah! Fingertips. Right. There we go. Get off. Leave my pizza alone.
For Ciro, this is all second nature. He grew up in his grandmother's pizzeria. Pizza itself dates back centuries in Naples. It started as street
food in the 1700s. It evolved into the margherita named for Queen Margherita in 1889.
SALVO: It's good.
QUEST: Good.
SALVO: Good.
QUEST (voice-over): There are strict standards for the Neapolitan.
SALVO: Pomodoro.
QUEST: This is the profits. There we go.
SALVO: More, more tomato.
QUEST: More?
SALVO: More, more, more.
QUEST: Right. Next.
SALVO: Mozzarella cheese. Two hands. OK. Stop. Basil.
QUEST: Do you break it or you just leave it?
SALVO: Broken, broken.
QUEST (voice-over): Now, just a minute. We're missing my favorite ingredient.
Where's the pineapple?
SALVO: Pineapple? No, no, no pineapple.
QUEST: Where's the pineapple?
SALVO: No, no, no. Pineapple, no pizza. No, no, no.
QUEST: Pineapple?
UNIDENTIFIED MALE: No, no.
SALVO: No, no, no.
QUEST (voice-over): Naples is never going to budge on pineapple.
All right. How long in the oven?
SALVO (through text translation): Sixty to 70 seconds.
QUEST: No.
(Voice-over): The pies are ready. A bit of this.
SALVO: Parmesan.
QUEST: Yes, yes, yes.
(Voice-over): A bit of that.
SALVO: (Speaking in foreign language).
QUEST (voice-over): And the show is on.
Look at this. Is leftover pizza still good the next morning for breakfast?
SALVO (through text translation): If the pizza is good, you can keep it until the next day and eat it.
QUEST: This is so good.
I can certainly see why Naples is growing in popularity with visitors because besides the picture perfect coastline and grand buildings, there is
a raw, unvarnished authenticity here that you probably won't find in many other places. And you'll want to come here and experience this unmanicured
energy all for yourself.
Gritty Naples. Totally part of our "World of Wonder."
(COMMERCIAL BREAK)
END
