Billionaire Taxes with ProPublica’s Jesse Eisinger; Instagram’s Creator Week with Head Adam Mosseri

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 9 June 2021

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Instagram is making a big play for influencers, rolling out new money-making features for content creators in its first ever “Creator Week.” Instagram head Adam Mosseri, discusses the new tools and his social media strategy, and he compares Facebook’s approach to revenue with Apple’s. ProPublica is reporting data from the IRS, revealing how American billionaires like Warren Buffett, Carl Icahn, and Elon Musk have avoided paying income taxes. Jesse Eisinger, senior reporter and editor for ProPublica, shares his team’s motivation for publishing the data and his vision for its impact. Plus, meme stock mania continues to rock Wall Street and Reddit, rising labor costs could be hitting your Chipotle budget, and El Salvador is taking cryptocurrency seriously. 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	Bring in show music please.
0:03.0	This is Squawk Pod.
0:05.0	I'm C NBC producer Katie Kramer today on our podcast.
0:09.0	To like or not to like, that is the question at least on Instagram the platform rolling out new
0:14.8	features Instagram head Adam Missouri. The hope was to deep pressurize Instagram a
0:19.5	little bit to allow people to focus a little bit less and how many likes they
0:22.3	were getting and a little bit more on the people
0:24.4	that inspire them and on connecting, you know, with their friends.
0:28.4	Billionaires, they don't pay a lot in taxes, the story everyone's talking about with writer Jesse Eisinger of ProPublica.
0:35.4	We think it is in the public interest to know that Jeff Bezos, the world's richest person,
0:41.2	paid zero in income tax in two recent years that Michael Bloomberg
0:45.4	paid zero Carl icon paid zero Elon Musk in 2018 zero taxes those stories plus meme stocks on the move.
0:54.0	They're also divorced from reality.
0:56.0	I don't know what you do.
0:57.0	And Chiching Chipotle.
0:59.0	Rising costs are hitting your take-out.
1:01.0	If you get a burrito and it costs a little bit more maybe you
1:03.4	can feel good about it too. It's Wednesday June 9th 2021. Squack Pod begins right now.
1:09.8	Stand Becky by in three, two, one, QAblees.
1:14.8	Good morning, everybody.
1:15.8	Welcome to Squack box here on CNBC.
1:17.8	I'm Becky Quick, along with Andrew Ross Sorkin.
	...

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