Musk’s Stock Sales; Pfizer’s Covid Pill; Slack and the Newest Normal

Facebook parent Meta delivered disappointing quarterly results, and its stock is taking a hit in response. CEO Mark Zuckerberg cited supply chain and inflation issues hitting advertiser budgets and fallout from Apple’s new iOS, but the stock still lost a fifth of its value overnight. Adam Singolda, founder and CEO of advertising platform Taboola, joins venture capitalist Kevin O’Leary to discuss Meta’s momentous miss, its metaverse ambitions, and Spotify’s path beyond the Joe Rogan controversy. Plus, the WNBA has scored its first capital raise, the largest ever for a women’s sports property; commissioner Cathy Engelbert and WNBA legend--and now investor--Swin Cash discuss the league’s courtside and digital future. In this episode:Kevin O’Leary, @kevinolearytvSwin Cash, @SwinCashCathy Engelbert, @CathyEngelbertAdam Singolda, @AdamSingoldaMike Santoli, @michaelsantoliMelissa Lee, @MelissaLeeCNBCAndrew Ross Sorkin, @andrewrsorkinCameron Costa, @CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

3 Feb 202225min

In the wake of Brian Flores’s lawsuit against the NFL and three of its teams, CNBC’s sports business reporter Jabari Young and Washington University’s director of the sports business program Patrick Rishe discuss the legacy of racial inequity in the league and the ripple effects of the ex-head coach’s allegations. Journalist and Yale University lecturer Joanne Lipman considers Spotify’s decision to stand by Joe Rogan, even as more musicians follow Neil Young’s lead. Spotify’s $100 million check to the podcaster brings the company into the debate about content moderation and protections: is it a platform, or a publisher? Tech stocks, which led the market sell-off in January, have been key drivers of the three-day rebound, and Google-parent Alphabet’s strong quarter is pushing its stock--and the rest of the tech cohort--even higher. Meanwhile, shares of PayPal slipped over 25% a day after the company provided weak guidance that it blamed in part on inflation. Plus, Elon Musk is defending his infamous 420 tweet (again), and a whole lot more winter is coming!In this episode:Patrick Rishe, @PatrickRisheJoanne Lipman, @joannelipmanJabari Young, @JabariJYoungBecky Quick, @BeckyQuickAndrew Ross Sorkin, @andrewrsorkinCameron Costa, @CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

2 Feb 202227min

Black spending power reached a record $1.6 trillion in 2021, up 171% since 2000, but CNBC’s Frank Holland reports that Black Americans have seen their net wealth decline 14%. Bob Johnson, founder and chairman of RLJ Companies and founder of the BET Network, kicks off Black History Month with a discussion about closing the racial wealth gap. Johnson considers whether President Biden’s Build Back Better plan will ultimately improve economic mobility, and he lays out the biggest streaming players in media right now. FBI Director Christopher Wray delivered a speech on Chinese corporate espionage, saying the threat to the West from the Chinese government is “more brazen” and damaging than ever before. CNBC’s Eamon Javers reports on why LinkedIn could be a spy’s way in. Plus, Peloton is lowering expectations for its own performance, and The New York Times has bought Wordle. In this episode:Bob Johnson, @RLJOfficialEamon Javers, @EamonJaversFrank Holland, @FrankCNBCBecky Quick, @BeckyQuickAndrew Ross Sorkin, @andrewrsorkinKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

1 Feb 202225min

Tech investing titan and retail trader favorite Cathie Wood is doubling, tripling, quadrupling down on her speculative tech portfolio strategy, despite recent losses. Matthew Tuttle, founder of the “anti-ARKK fund” SARKK is shorting Wood’s own ETF. In China, keeping Covid-19 in check comes at a great price for its residents; CNBC’s Beijing Bureau Chief Eunice Yoon reports on the long testing lines and government surveillance that are now a part of everyday life. In the wake of Spotify’s decision to back controversial podcaster Joe Rogan over musician Neil Young and the subsequent #DeleteSpotify social media push, Joe Rogan has apologized to the company and stated that he’s open to changes on his show. Plus, Tesla’s tapping into the karaoke market, and the NFL had a dramatic weekend.  In this episode:Matthew Tuttle, @TuttleCapitalEunice Yoon, @onlyyoontvBecky Quick, @BeckyQuickAndrew Ross Sorkin, @andrewrsorkinKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

31 Jan 202229min

Thanks to the Fed’s emergency stimulus measures, the U.S. economy saw its fastest pace of growth since the 1980s in 2021. To combat the resulting inflation however, the Fed plans to dial those measures back, starting with a rate hike in March. Carlos Gutierrez, former Commerce Secretary, former CEO of Kellogg’s, and co-founder of Empath, says that CEOs will have to deal with inflation now, whether it’s transitory or not. In the face of yet another Covid-19 variant, Dr. Scott Gottlieb, former FDA commissioner and CNBC contributor, breaks down what experts know about BA.2. Plus, Apple reported its best single quarter revenue ever despite supply challenges, and Southwest Airlines is considering a return of in-flight booze. In this episode:Carlos GutierrezScott Gottlieb, @ScottGottliebMDJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickAndrew Ross Sorkin, @andrewrsorkinKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

28 Jan 202229min

Legendary investor Stanley Druckenmiller says he’ll be listening to the bond market as the Federal Reserve backs away from its economic easing policies. CNBC’s Steve Liesman breaks down Fed Chair Jay Powell’s tricky road ahead. Hedge funder Bill Ackman bought up enough Netflix stock to make him one of the streamer’s top 20 shareholders. Musician Neil Young set an ultimatum for Spotify, asking the team to remove either Joe Rogan’s ‘The Rogan Experience,’ which Young claims is spreading Covid-19 misinformation, or his own music. Spotify picked its lucrative podcaster Joe Rogan over the works of legendary rocker. Axios reporter Sara Fischer breaks down why Spotify’s optimism about podcast advertising dollars might have justified the decision.  In this episode:Sara Fischer, @sarafischerJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickAndrew Ross Sorkin, @andrewrsorkinSteve Liesman, @steveliesmanKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

27 Jan 202230min

The market’s wild swings have not deterred retail investors; Tastytrade founder Tom Sosnoff breaks down trading volume and trading appetite among the smaller market players. ARK Invest’s Cathie Wood isn’t deterred by big tech’s big swings either, and she’s doubling down on her strategy. Mattel has won back the license to make Disney princess toys, Microsoft is optimistic about its future in the cloud, and the U.S. Commerce Department is warning of a concerningly low semiconductor inventory. Plus, Elton John is postponing some of his shows. In this episode:Tom Sosnoff, @tastytradeJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickAndrew Ross Sorkin, @andrewrsorkinKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

26 Jan 202227min

After the biggest intraday market bounceback in years, investors are making sense of tech stock stumbles, inflation fears, and uncertainty from the Fed. Cryptocurrencies are still trading lower, with bitcoin down 50% from its highs. About 8,500 American troops are standing by for deployment as the U.S. and its European allies watch Russia-Ukraine tensions escalate. CNBC’s Kayla Tausche breaks down the U.S. response to the rising likelihood of a Russian invasion, and Hayman Capital Management CIO and global investor Kyle Bass considers the conflict’s impact on portfolios and geopolitical stability. Plus, it’s been a year since the Reddit Rebellion. WSJ journalist and “The Revolution That Wasn’t” author Spencer Jakab explains what’s changed--and what hasn’t--since the ‘little guys’ took on Wall Street.  In this episode:Kyle Bass, @JkylebassSpencer Jakab, @SpencerjakabJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickAndrew Ross Sorkin, @andrewrsorkinKayla Tausche, @kaylatauscheKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

25 Jan 202234min