A Miss from Tesla, Hope from GDP, & Layoffs from Tech Firms 01/25/24

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 25 January 2024

⏱️ 37 minutes

🔗️ Recording | iTunes | RSS

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Summary

GDP in the fourth quarter of 2023 increased 3.3%, beating economist expectations. After Tesla reported a miss on revenue and profit in its fourth quarter, CNBC’s Phil Lebeau explains the results and the slowing growth for EV makers across the board. Plus, gearing up to the general election, Financial Services Committee Chair Rep. Patrick McHenry (R-North Carolina) discusses the push to get deals done in Congress. IBM, eBay, TikTok, Amazon, Google and other tech players are laying off workers; employment consultant Jason Greer explains the role of AI in today’s evolving labor market. Phil Lebeau - 4:08 Jason Greer - 19:29 Patrick McHenry - 32:51 In this episode Rep. Patrick McHenry, @PatrickMcHenry Phil Lebeau, @Lebeaucarnews Becky Quick, @BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music please.
0:04.0	This is Squawk Pod from C and B.
0:07.0	On today's episode,
0:09.0	IBM, eBay, Amazon, Google, Tik-Toc,
0:12.0	the layoffs and tech just keep coming.
0:14.8	Employment consultant Jason Greer says AI is at play.
0:18.8	Oh, the white collar workers are in trouble.
0:20.8	Tech is shaking up its own labor market.
0:23.7	As opposed to paying somebody 200, 300,000 a year to do the job, I can actually use artificial
0:29.0	intelligence to do the job that they used to be able to do.
0:32.6	And former interim speaker, Representative Patrick McHenry, on the push for progress in Congress
0:38.7	as we gear up for the general election.
0:41.0	We can still do big deals even amidst the longest general
0:44.0	election campaign in American history. Those conversations, but first, the real
0:48.8	GDP number buoying economic spirits and Tesla's fourth quarter myths.
0:54.1	See and B.s Phil LaBoe has the report.
0:56.8	There really wasn't a whole lot to like in this guys
0:59.2	largely because of how vague they are about vehicle deliveries.
1:04.0	I'm C.N.C. producer Cameron Costa.
1:06.0	It's Thursday, January 25th, and Squawk Pod begins right now.
1:11.0	Stand Becky by in three, two, one, queue please.
1:16.5	Good morning everybody and welcome to Squawk Box right here on CMBC.
	...

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