CHANCE OF RECOVERING QUICKLY. OTHERWISE IT’S GOING TO BE BIG
TROUBLE.
TROUBLE. >> ANTHONY, LET’S TALK ABOUT
GOODWILL CONSCIOUS CAPITALISM
AND IF PEOPLE GET TOO GREEDY,
THEY COULD RUIN IT FOR EVERYONE.
ON FRIDAY, YOU REACHED OUT TO ME
AND ASKED ME, DO I THINK THAT
SMALL HEDGE FUND MANAGERS SHOULD
BE ELIGIBLE FOR THIS PROGRAM?
AND IN MY OPINION, I WOULD SAY
ABSOLUTELY NOT.
ABSOLUTELY NOT. OR MAYBE IF THERE WAS AN
UNLIMITED AMOUNT OF MONEY.
SO I TURN THE QUESTION TO YOU.
DO YOU THINK MONEY MANAGERS,
SMALL PRIVATE EQUITY FIRMS
SHOULD GET THIS MONEY?
THERE’S ONLY $350 BILLION.
>> OKAY, SO, OBVIOUSLY, LARGE
HEDGE FUND MANAGERS, PEOPLE LIKE
MYSELF, WE HAVE NO INTEREST IN
THE PROGRAM, BUT ALL I WAS
SAYING TO YOU IS THERE ARE SMALL
BUSINESSES THAT ARE IN PRIVATE
CAPITAL AND VENTURE CAPITAL AND
THEY ARE TIED TO THE MULTIPLIER
EFFECT OF HELPING THESE
BUSINESSES GROW.
BUSINESSES GROW. AND SO JUST BECAUSE THE BUSINESS
HAS A NAME PRIVATE EQUITY OR
HEDGE FUND MANAGER, DOESN’T
NECESSARILY MEAN THEY ARE LOADED
WITH RICH PEOPLE.
YOU HAVE 25, 27, 28-YEAR-OLDS
THAT ARE STARTING BUSINESSES
RIGHT NOW AND, STEPHANIE, YOU
SCARED THE LIFE OUT OF SOME OF
THEM.
THEM. THEY WERE CALLING ME AFTER YOUR
TWEET SAYING, IS THIS PROGRAM
NOT -- AM I NOT ELIGIBLE FOR
THIS?
THIS? I JUST STARTED MY BUSINESS.
I HAVEN’T YET RAISED MY CAPITAL.
SHOULD I NOT APPLY FOR THIS
PROGRAM?
PROGRAM? AND SO I THINK WE JUST HAVE TO
BE VERY CAREFUL IN OUR SOCIETY
TO PUT LABELS ON THINGS --
>> BUT ANTHONY?
>> YEAH, GO AHEAD.
>> BUT ANTHONY, A HEDGE FUND
DIDN’T HAVE TO SHUT DOWN.
YOU CAN SET UP A BLOOMBERG
TERMINAL IN YOUR HOUSE.
A RESTAURANT WENT TO ZERO
REVENUE.
REVENUE. AND LAST TIME I CHECKED NOBODY’S
MANAGEMENT FEES ARE GETTING
TOUCHED.
TOUCHED. >> WE’RE TALKING ABOUT TWO
DIFFERENT --
DIFFERENT -- >> WOULD YOU RATHER A RESTAURANT
GET THAT MONEY OVER --
>> LISTEN.
>> LISTEN. I HAVE A RESTAURANT.
SO I UNDERSTAND THE PROBLEM
THERE.
THERE. WE’VE BEEN FUNDING OUR
RESTAURANT AND PAYING OUR -- THE
SALARIES OF OUR EMPLOYEES.
I UNDERSTAND THE CONTEXT THAT
YOU’RE SAYING.
YOU’RE SAYING. BUT ALL I’M SAYING IS YOU HAVE
PEOPLE, AND I THINK SETH WOULD
AGREE WITH ME, THERE ARE
START-UPS, SOME OF THEM ARE
ELIGIBLE, SOME ARE NOT ELIGIBLE
FOR THE PROGRAM AND THERE ARE
SMALLER BUSINESSES IN PRIVATE
EQUITY AND HEDGE FUNDS AS WELL.
WE HAVE TO BE VERY CAREFUL IN
OUR SOCIETY IN MY OPINION, OF
LABELING CERTAIN THINGS AND THEN
THOSE PEOPLE ARE RICH, THESE
OTHER PEOPLE ARE POOR, IT’S NOT
NECESSARILY THAT EASY.
THERE’S A BIGGER GRAY ZONE THAN
MOST PEOPLE THINK.
THAT’S MY POINT.
BUT, LISTEN, I HAVE GOT A LOT OF
EMPATHY FOR THE PEOPLE IN THE
RESTAURANT INDUSTRY.
RESTAURANT INDUSTRY. I OWN A RESTAURANT.
AND I KNOW HOW DIFFICULT IT’S
GOING TO BE TO START THOSE
RESTAURANTS, PARTICULARLY IN NEW
YORK CITY, WHERE WE MAY NOT BE
ABLE TO OPEN FOR QUITE SOME
TIME.
TIME. SO ALL I’M SAYING IS LET’S NOT
LABEL PEOPLE RIGHT NOW.
LET’S JUST GET THE MONEY INTO
THE SYSTEM AS QUICKLY.
THERE ARE NO VILLAINS IN THIS
SITUATION.
SITUATION. THERE’S AN INVISIBLE VIRUS HURT,
THE ENTIRE SOCIETY.
BUT I AGREE WT WE
HAVE TO BE CAREFUL OF GREEDY
PEOPLE THAT ARE TRYING TO TAKE
ADVANTAGE OF THE SYSTEM THAT ARE
UNFAIR.
UNFAIR. I’M JUST TALKING ABOUT IN
GENERAL, I AM NOT IN LOVE WITH
THE LABELS.
THE LABELS. AND YOU DID SCARE A COUPLE OF
THESE YOUNG GUYS, STEPHANIE.
I WANT TO POINT THAT OUT TO YOU.
>> ANTHONY, I’M OKAY WITH THAT.
ANTHONY SCARAMUCCI, THANK YOU
FOR JOINING ME.
I APPRECIATE IT.
ANTHONY, GUESS WHAT?
YOU KNOW WHAT?
I’LL MAKE AN OPEN INVITATION.
ANY PRIVATE EQUITY FUND OR HEDGE
FUND MANAGER, COME JOIN ME ON
AIR.
AIR. I’D LOVE TO DISCUSS WHY YOU
BELIEVE YOU’RE ELIGIBLE FOR THE
PROGRAM.
PROGRAM. I’M OPEN FOR IT.
>> I’LL GET A COUPLE OF THESE
YOUNG GUYS TO TAKE YOU UP ON IT
AND THEY’RE JUST TRYING TO
CREATE JOBS AND FLOW CAPITAL
INTO THE SOCIETY, STEPHANIE.
THEY’RE NOT ALL DEMONIC PEOPLE.
>> ANTHONY, YOU KNOW I DON’T
THINK THAT.
THINK THAT. THAT’S MY BACKGROUND.
I CAME FROM WALL STREET.
>> I KNOW THAT.
THAT’S WHY I’M --
>> I LOVE GREAT AMERICAN
CAPITALISM.
CAPITALISM. AT THIS MOMENT, WHEN WE’RE
TALKING ABOUT A PROGRAM FOR
SERVICE BUSINESSES THAT ARE
ABOUT TO GO UNDER, MY HEART IS
NOT BLEEDING FOR THE HEDGE FUND