Washington vs. Big Tech: Taking on the Trillion-Dollar Club
Jeff Bezos, Tim Cook, Mark Zuckerberg, and Sundar Pichai, leaders of the four tech titans, testified remotely on Capitol Hill for 6 hours this week. Becky Quick, Andrew Ross Sorkin, and Wilfred Frost recap the highlights of the hearings, from antitrust defenses to privacy concerns and technical glitches. Former White House Chief Technology Officer Aneesh Chopra breaks down the evidence presented by the House Judiciary Antitrust Subcommittee and how the hearings may change FTC, DOJ, and state-led investigations into Amazon, Apple, Facebook, and Alphabet. Plus, Senator Mark Warner (D-VA) raises his concerns about what might follow a big tech breakup.
30 Juli 202033min
Kodak’s New Big Picture; SEC Chairman Jay Clayton; Dr. Scott Gottlieb
Kodak is back. The once-giant corporation responsible for most twentieth century American memories is now reinventing itself as a drug company. Executive Chairman James Continenza explains Kodak’s comeback amid the coronavirus pandemic. SEC Chairman Jay Clayton discusses corporate hygiene as company boards cash in on their own holdings. He issues a word of advice for investors looking to get involved in SPACs, and urges transparency among corporate management. Plus, former FDA Commissioner Dr. Scott Gottlieb discusses the race for a Covid vaccine and planning schools’ fall semesters.
29 Juli 202031min
Bill Gates on the Race for a Vaccine, Elon Musk, & Big Tech
In an interview exclusive to CNBC, billionaire philanthropist and Microsoft co-founder Bill Gates discusses the efforts to find a coronavirus vaccine and therapeutic, how those technologies may change our new normal, and when. Gates weighs in on big tech ahead of the Silicon Valley giants’ antitrust hearings this week, as well as the other tech giant: Elon Musk. Plus, when would Bill Gates send his children back to school?
28 Juli 202033min
Moderna CEO Racing for a Vaccine; Harlem Children’s Zone’s National Covid Relief
As coronavirus cases spike in hot spots across the country, biopharmaceutical companies race to find a vaccine. Moderna Therapeutics has secured an additional $472 million in government funding to develop its own vaccine candidate, which begins phase 3 human trials today. Moderna CEO Stéphane Bancel discusses the vaccine development and addresses concerns about his executive team’s lucrative and unscheduled stock sales over the past six months. The Harlem Children’s Zone is going national with its efforts to provide communities with holistic Covid-19 relief. President Geoffrey Canada and CEO Kwame Owusu-Kesse discuss the disproportionate effect the pandemic has had on Black communities, and share their approach to scaling relief efforts from NYC to six other cities across the US.
27 Juli 202031min
Elon Musk, “A Bona Fide Texan,” & Wall Street’s Scandals, from Goldman Sachs to Tapestry
Texas Governor Greg Abbott discusses the new $1B Tesla factory moving into Austin. After issuing a statewide mask mandate, Governor Abbott explains his strategy for keeping Texan businesses open amid rising coronavirus cases. The U.S. and China are in a diplomatic spat that’s escalating quickly, and the highly anticipated big tech hearing on the Hill has been postponed. Plus, two Wall Street scandals: Goldman Sachs has reached a settlement with Malaysia, putting the star-studded 1MDB debacle to bed, and Coach & Kate Spade parent Tapestry’s CEO abruptly resigned as questions about his past behavior came to light. Vanity Fair special correspondent and CNBC contributor William Cohan chronicles how what started as a profile on Jide Zeitlin turned into a bizarre discovery of a double life. Happy National Tequila Day!
24 Juli 202031min
United Airlines CEO; Tesla’s Profits; Investor Chamath Palihapitiya
Scott Kirby, United Airlines CEO, explains why despite safe and clean air circulation on planes, his industry won’t fully recover until a Covid-19 vaccine is widely available. Tech investor, co-owner of the NBA Golden State Warriors and Virgin Galactic Chairman Chamath Palihapitiya breaks down Tesla’s track for the S&P 500. Palihapitiya, a former Facebook insider, says big tech has “had a good run,” but a breakup is good for competition. Plus, a continuing SPAC education: Palihapitiya’s case for special-purpose acquisition companies after taking a few of his own to the public markets.
23 Juli 202031min
SPAC-Man: Bill Ackman’s Pitching SPACs & Defending Profits
Bill Ackman’s Pershing Square Capital Management sponsored the largest SPAC IPO in history, raising $4B in capital. In an exclusive CNBC interview, the hedge fund billionaire makes his pitch for the insider baseball market vehicle: the special-purpose acquisition company. “Much better for the issuer, much better for the shareholder, because they get to make a thoughtful decision that’s not rushed by the typical IPO process.” Plus, four months after his “Hell is coming” comments rocked the markets, Ackman, a famous short seller, explains why less than a week after that warning, he profited over $2 billion.
22 Juli 202031min
Classrooms & Covid; Musk’s & Bezos’s Billions; Pandemic Pivots
Epidemiologist and Dean of the Harvard T. H. Chan School of Public Health Michelle Williams suggests corporations may be the key to stemming Covid’s spread and ensuring a safe fall semester for students and teachers. Bruce Feiler, author of “Life Is in the Transitions: Mastering Change at Any Age,” offers insight on navigating the personal and professional changes prompted by the coronavirus pandemic. Plus, Elon Musk and Jeff Bezos are each over $10 billion wealthier today than they were yesterday, and the NFL is shelling out $75 million for daily Covid testing during practice camps.
21 Juli 202028min
