A Hollywood Strike, a Warning in Washington, & Uber on the Road to Profit 05/02/23

Squawk Pod

CNBC

News, Business News, Business, Investing

4.2 • 543 Ratings

🗓️ 2 May 2023

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

In Washington, Treasury Secretary Janet Yellen has warned that the U.S. could hit the debt ceiling by June 1st, much earlier than expected. At Uber headquarters in New York, CEO Dara Khosrowshahi discusses the company’s strong financial quarter, competition with Lyft, and his faith in Uber’s path to profitability. In Hollywood, writers have gone on strike, pushing for a fair deal from studios and delaying upcoming TV releases and production. Semafor co-founder and editor in chief Ben Smith discusses the politics of Hollywood, the recent shake ups in news media, and his new book, “Traffic.” Plus, AI is shaking up the Chegg’s workforce. In this episode: Dara Khosrowshahi, @dkhos Ben Smith, @semaforben Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm C. NBC producer Katie Kramer, today on Squacpot.
0:09.0	Uber driving past Wall Street's expectations this quarter.
0:13.5	CEO Dara Kuzver Shahi with how it happened.
0:16.3	Consumer spent has been strong and has been especially strong in the services sector.
0:20.8	Consumers are buying less stuff, but they are going out to
0:24.6	restaurants etc and it showed in our numbers. And a strike in Hollywood, writers
0:30.1	pushing for a fair deal from studios and TV shows stalled in the
0:34.0	crossfire. Semaphores Ben Smith joins us. It is incredibly bitter and divisive and
0:38.4	that's how they do it.
0:39.4	It's seven or eight times over a hundred years though. You think that's a lot or a
0:42.0	little? Seems like a lot.
0:44.0	Those stories today, plus the Treasury Secretary warns the U.S. could default on its
0:48.7	debt as soon as June 1st. We've only got 30 days so let's wait 8 days and then we can all get together.
0:54.8	Like hello.
0:56.7	And the bots, the bots are coming for us.
0:59.5	It's not like in the future, it's like now.
1:01.7	It's like actually not even now, it's like a year ago.
1:04.6	It's Tuesday, May 2nd, 2023.
1:07.3	Squawk Pod begins right now.
1:09.6	Stand Becky by in three two one queue please
1:13.6	good morning everybody welcome to squawk box here on see and be see we are live from
	...

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