Amazon’s Rumored Peloton Acquisition, Breaking Down Meta’s Earnings Fallout & IRS Guidance on Reporting Crypto Holdings

TechCheck

CNBC

Disruptors, Cnbc, Investing, Tech, Management, Business, Technology, Faang

4.5 • 66 Ratings

🗓️ 7 February 2022

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors begin today’s show covering rumors that Amazon could be acquiring interactive fitness platform Peloton, with analysis from Plexo Capital Founding Managing Partner Lo Toney. Then, CNBC’s Mike Santoli breaks down the widening divergence among big tech names, and Arjuna Capital Managing Partner Natasha Lamb joins to discuss the fallout from Meta’s disappointing earnings last week. Next, UBS Equity Research Analyst Arpine Kocharyan circles back to Peloton ahead of the company’s earnings tomorrow, and our Julia Boorstin reports on the Street’s response to the ongoing controversy surrounding Spotify and Joe Rogan. Later, CNBC’s Robert Frank covers guidance from the IRS on how cryptocurrency owners should properly report those holdings on their tax returns. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0	I'm Carl Kintanilla. You're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern. Listen in. Good Monday morning. Welcome to Tech Check. I'm Carl Kaintina with John Fortin. Dear Drubosa. Today, the harsh calling of winners and losers. Is this the meta market or the Apple market? The NASDAX trying for its sixth positive day in the last seven. Plus, should Peloton be peddling a sale? Who makes sense
0:22.4	as a possible buyer? We're going to discuss. And then Bitcoin up 35% since hitting a low of 35K in late
0:29.5	January. We'll answer a key crypto tax question this hour with Bitcoin back above 43KD.
0:36.3	We start with a stock that is rocketing higher today. and that, of course, says Palaton up 21%
0:41.0	just this morning, which, given the company's downhill turn, just takes it back to where it was
0:45.3	trading, oh, two weeks ago. Multiple reports say Amazon is floating in acquisition of the
0:50.2	fitness company with Nike considering bidding as well, and one asking if Apple is perhaps a more natural buyer.
0:56.2	Beyond Peloton, it raises new issues for tech investors in big tech.
1:00.6	Should the biggest companies be acquiring growth, especially given those huge drawdowns
1:05.1	we've seen in valuation?
1:06.6	Microsoft did lose out on TikTok, but has certainly been an acquirer most recently with Activision Blizzard.
1:12.6	As for meta, perhaps they cannot buy another Instagram or WhatsApp due to regulatory pressures,
1:17.4	but is that why we're seeing $10 billion of Metaverse investment?
1:21.0	Pelotons market cap guys here near $10 billion, and that's close to what Amazon is spending on MGM.
1:26.8	We know that Amazon guys is all about the prime flywheel, and that's close to what Amazon is spending on MGM. We know that Amazon, guys, is all about the prime flywheel.
1:30.1	And the question is, does it want or need a Peloton to make that prime subscription more
1:35.5	attractive?
1:36.0	John, we just got a price hike from Amazon and the CFO saying that it was confident in
1:41.7	its platform offering.
1:42.9	So why would it really need this?
1:44.6	Need? I mean, who needs Peloton, except for those of us who maybe were eating a little bit too
1:49.8	loosely during the pandemic? But, I mean, could Amazon use sort of the lower level
	...

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