Big Tech’s Big Boost, Dropbox CEO Drew Houston & Former TikTok CEO Kevin Mayer on China’s Crackdown

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 12 July 2021

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors start off this Monday morning with Plexo Capital’s Lo Toney on the Big Tech bounce back. We also have the details on China’s latest regulatory moves and Disney’s Black Widow film bringing in $60 million over the weekend just on Disney Plus. Then, we have Dropbox Co-Founder and CEO Drew Houston to discuss return to work and how the company’s redesigned offices allow for flexibility. Later, CNBC’s Julia Boorstin joins to interview Former TikTok CEO Kevin Mayer on the recent tech crackdown in China. Mayer, also a Former Disney Senior Executive Vice President, shares his thoughts on Disney Plus and the broader streaming space. Plus, CNBC’s Morgan Brennan has all the details on Sir Richard Branson’s out of this world trip yesterday and the wild moves in Virgin Galactic’s share price.

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.
0:06.9	Good Monday morning. Welcome to Tech Check. I'm Carl Kingtonio with Deer Drabosa and John Ford. Today,
0:11.6	investors return to tech, an explanation of the rotation that we continue to see in the markets.
0:17.1	Then former TikTok CEO, Kevin Mayer, as China tightens its grip on its own tech giants.
0:22.7	And later, Disney domination as Black Widow not only wows with the box office, but on Disney Plus D.
0:30.9	And welcome back, Carl.
0:32.4	We are watching shares of Virgin Galactic as well.
0:34.8	You just heard from Morgan, a 20% swing for that stock. But now it is
0:39.4	deep in the red after that pop at the open, plus the CEO of Dropbox on a tech check exclusive.
0:45.7	That is coming right up, John. And first, we are watching as big tech gives the markets a bump.
0:50.8	The S&P notching its 38th record high of the year on Friday, a more than 7% turnaround
0:56.5	from its May 12th low. Invidia, Microsoft and Tesla joining the Fang stocks. The eight companies
1:02.4	responsible for more than half of the indexes gains. And this says the NASDAQ, ticking down
1:08.2	slightly after touching an intraday high earlier this morning,
1:12.8	and I hear with his outlook on big techs bounce Plexo capital founding, managing partner
1:18.2	and former GVN Comcast Ventures partner, Lowe Tony.
1:22.7	Lowe, good morning.
1:24.2	Morning. Thanks for having me.
1:26.0	Well, I'm trying to figure out what investors should take away from the sort of, I don't know
1:32.9	whether they call it a head fake.
1:34.3	I mean, there was this sense that big tech wasn't doing as well.
1:37.3	It's under all this pressure, whether it's antitrust or just sort of big company scrutiny
	...

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