Benchmark Capital General Partner Bill Gurley on Earnings and Private Equity, AMD Beats the Street in Q1 & Breaking Down Airbnb’s Latest Results 5/4/22

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CNBC

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

4.5 • 66 Ratings

🗓️ 4 May 2022

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors begin today’s show covering President Biden’s press conference on economic growth, jobs and deficit reduction. Then, Benchmark Capital General Partner Bill Gurley shares his thoughts on earnings from ride-hailing companies Uber and Lyft, his perspective on private equity and more. Next, Cowen Managing Director Matthew Ramsay breaks down chipmaker AMD’s first quarter earnings beat, and Tapas Capital Advisor and Former Airbnb President Greg Greeley joins for a look at the lodging platform’s recent results. Later, our Julia Boorstin takes a deep dive into online dating service Match as its weak Q2 guidance and unexpected leadership change send shares lower. 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 Julia Borsden, and you're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern, listen in.
0:07.8	Good Wednesday morning. Welcome to Tech Check. I'm Carl Kintanilla with Deirdreboza and John Ford.
0:11.9	Today, AMD trusts the processing. Shares are higher as sales jump 70% year-on-year. That includes
0:18.7	Xilinks, of course. Plus, Airbnb says investors here to stay.
0:22.3	Profitability gets better. Bookings rebound. Stocks a bit higher. But all eyes are on the ride
0:27.3	hailing giants this morning. Lift shares plummet. As the company says it has to spend more
0:31.4	to get drivers back on the road, once again, chasing growth with some big incentives and
0:36.5	will Uber have to follow.
0:38.2	The company pushed up earnings to this morning to get in front of all of that.
0:41.5	And Derrick O'Shah, he says he doesn't think so.
0:43.9	He says that's a lift problem.
0:47.4	Our Q1 results resoundingly affirmed that we're on a strong path emerging out of the pandemic.
0:53.2	Our focus on profitable growth, product innovation, and operational excellence over the last two years
0:59.0	has set us apart from the pack.
1:01.0	Our mobility team is demonstrating phenomenal execution, growing both demand and supply
1:06.0	faster than competitors, and rapidly innovating to roll out new creative offerings, all while delivering
1:12.8	record margins despite the macro turbulence that we all see.
1:17.9	Uber shares down by about 11% or so. It's going to take you back about a year and a half.
1:23.5	Dee, you raised this this morning. Investors asking just how durable the ride sharing model is.
1:28.1	And you listened to the calls last night, which you tweeted were tough.
1:33.2	The Lyft one was really, really tough. The Uber one this morning was a little bit better, but there was some caution at the end.
1:39.2	And, you know, what's a Lyft problem now? What may be a Lyft problem now, is likely to be an Uber problem in the future.
	...

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