AI Gone Viral & Senator Ted Cruz on Debt 5/23/23

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 23 May 2023

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

An AI-generated image went viral on Twitter, sending a ripple through the markets as investors considered its authenticity. CNBC’s Steve Kovach discusses the perfect storm of paid-for blue checkmarks on Twitter, AI, and social media, and what big tech firms like Alphabet could do to curb the spread of AI-fueled disinformation. In Washington, CNBC’s Kayla Tausche reports that President Biden and House Speaker Kevin McCarthy (R-CA) had a productive discussion about averting a debt default. PIMCO’s head of public policy Libby Cantrill discusses the potentially “catastrophic” stakes for those negotiations, and Senator Ted Cruz (R-TX) discusses his concerns as the debt ceiling deadline approaches. In this episode: Sen. Ted Cruz, @tedcruz Becky Quick, @BeckyQuick Melissa Lee, @MelissaLeeCNBC Kayla Tausche, @kaylatausche Steve Kovach, @stevekovach Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:04.0	Hi, I'm C NBC producer Katie Kramer
0:07.0	today on Squack Pod.
0:09.0	The debt ceiling showdown,
0:11.0	one meeting at the White House House one small step in DC.
0:14.8	What do they do? Sit in a room for hours and say yes, no, yes, no.
0:18.6	Senator Ted Cruz on the negotiations progress.
0:21.6	Right now it's a game of chicken and the question is who's going to swerve.
0:25.4	And Pimco's head of public policy Libby Cantrell on the sky high stakes.
0:29.7	You know, I mean people have used catastrophic that might seem hyperbolic but we think it could be.
0:34.0	That big story plus the fake photo that shook the internet, the tweets, the check marks, and the market impact.
0:41.0	For 8 bucks you too can try and defraud anybody you want.
0:45.7	It's Tuesday, May 23rd, Squawk Pod begins right now.
0:50.1	Stand Becky by in three, two, one, queue please.
0:55.0	Good morning everybody.
0:56.3	Welcome to Squackbox here on CNBC.
0:58.2	We are live from the NASDAQ market site in Times Square.
1:00.9	I'm Becky Quick, along with Melissa Lee. Joe and Andrew are off today
1:05.0	so the girls are running the show. Of course everybody's waiting to see what
1:07.8	happens with this potential deal to avoid a debt default. If you're looking
1:12.2	at the Treasury yields,
1:13.1	you're going to see right now that the shred between the two year
	...

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