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Squawk Pod

Big Tips & New Threads 7/06/23

Squawk Pod

CNBC

Business News, Investing, Business, News

4494 Ratings

🗓️ 6 July 2023

⏱️ 30 minutes

🧾️ Download transcript

Summary

Meta has officially debuted its Twitter-like messaging app “Threads,” which the company is pitching as Instagram’s “text-based conversation app.” Just sixteen hours after launch, the social network had surpassed 30 million signups. Joanna Stern, Wall Street Journal senior personal technology columnist, discusses the launch of Threads and the challenge it poses to Twitter. 30% of Americans think tipping culture is “out of control,” according to a new survey. Joe Kernen, Becky Quick, and Andrew Ross Sorkin debrief on when they’re tipping–and how much. Shake Shack founder Danny Meyer weighs in on tipping, too; the Union Square Hospitality Group founder and executive chairman explains his perspective on tips, the labor market, and the state of the consumer. Plus, hedge funder Bill Ackman has changed his mind about vaccines. In this episode: Joanna Stern, @JoannaStern Danny Meyer, @dhmeyer Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Becky Quick, @BeckyQuick Cameron Costa, @CameronCostaNY

Transcript

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0:00.0

Bring in show music please.

0:03.0

This is Squawk Pod and I'm

0:07.0

CNVC producer Cameron Costa.

0:08.0

Today on our podcast,

0:10.0

Keeping the Thread.

0:12.0

Meta is taking on Twitter and Instagram users are toying with a new social media app.

0:19.0

Threads.

0:20.0

The Wall Street Journal's personal tech columnist Joanna Stern.

0:24.0

I think this is a long game for Meta in the sense that it is looking to capture the time of people

0:30.0

that are already on Twitter and unhappy there or looking for an alternative.

0:35.0

And the other talker of the day, how much do you tip?

0:40.0

You used to give a tip, not just for good service,

0:42.6

but also, I think, out of a moral obligation

0:44.8

that you felt that the people who were doing this job

0:47.4

effectively were being underpaid.

0:48.9

Yeah.

0:49.9

Right.

0:50.0

Why we do it, how much we're doing it,

0:52.2

and whether it's worth it.

0:53.4

All about labor with Shake Shack founder Danny Meyer.

0:57.0

Inflation has done what politicians could never do,

1:00.4

and it brought people back to the labor force.

...

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