Biden’s $1.9T Plan; Big Tech’s Next Steps; IPO Fever

Squawk Pod

CNBC

Investing, Business News, News, Business

4.2 • 543 Ratings

🗓️ 15 January 2021

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

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Summary

President-Elect Joe Biden has unveiled his $1.9T Covid relief package, and his newly appointed Council of Economic Advisers Member Jared Bernstein makes the case for the proposal and discusses the pandemic’s “dual shock” to the American financial system. The New York Times media columnist Ben Smith joins OZY Media CEO Carlos Watson to examine what comes next for big tech as Silicon Valley giants grapple with protections for users and for free speech. Plus, 2021 is only 2 weeks old, but it already has IPO fever. The Squawk Box anchors unpack the biggest listings so far, and the speedbumps that may lie ahead for investors eager to jump in while the deals are flowing.

Transcript

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0:00.0	This is Squawk Pod. I'm C. NBC producer Katie Kramer today on our podcast.
0:07.0	I'm convinced we are ready to get this done. The very health of our nation is at stake.
0:13.2	The President-elect pushes for an economic relief package worth trillions.
0:17.6	We'll hear from one of Joe Biden's top advisors, Jared Bernstein.
0:20.8	This country has yet to put these two dual shocks behind us, both of course the
0:26.7	pandemic and its economic fallout. And this rescue plan solidly does so.
0:31.8	Social media struggling to strike a balance
0:34.0	between protecting users and protecting free speech.
0:37.2	Social's dilemma with the New York Times Ben Smith.
0:40.0	It's not totally clear that breaking them up
0:42.0	solves this particular problem. I think the challenge that breaking them up solves this particular problem.
0:43.4	I think the challenge around breaking them up is that the way companies, all sorts of companies
0:46.8	work in a crisis is they look what the other guy did and they all do that.
0:49.9	And what's next for big tech with Ozzy Media's Carlos Watson.
0:53.2	Whether or not there's a break above these, I don't see that coming.
0:56.7	But I do see something that feels a lot more like the FCC.
1:00.4	Those stories plus IPO fever in 2021.
1:03.5	Too much, too soon?
1:04.8	When you go back to think about all of the IPOs that took place during the late 90s
1:09.7	in 2000, it created scandal on Wall Street,
1:12.1	and I will imagine that we will be having a conversation about a scandal on Wall Street over the next year or two.
1:18.0	It's Friday. Finally, January 15th, 2021, Squack Pot begins right now.
	...

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