BlackRock’s New Board Member & Ben McKenzie, a Bitcoin Bear 7/18/23

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 18 July 2023

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

BlackRock has named Saudi Aramco CEO Amin Nasser to its board, a surprise move the company says will give it ‘a unique perspective’ on key issues. Jeff Sonnenfeld, Yale School of Management senior associate dean for leadership studies, discusses the decision and its impact on BlackRock’s ESG goals. ‘The OC’ actor and ‘Easy Money’ author Ben McKenzie explains his bitcoin pessimism, highlighting the risks and norms within the crypto industry. Plus, Warren Buffet’s Berkshire Hathaway has dumped a significant portion of its stake in Activision Blizzard as Microsoft’s deal to buy the video game company edges closer to the finishing line. In this episode: Ben McKenzie, @ben_mckenzie Jeffrey Sonnenfeld, @JeffSonnenfeld Andrew Ross Sorkin, @andrewrsorkin Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in Show Music Please.
0:03.0	Hi, I'm C NBC producer Katie Kramer today on Squawk Pod.
0:10.0	The board seat raising eyebrows, Oil Giant Saudi Aramco CEO joining up with Black Rocks, Larry Fink.
0:17.1	I think he has been hammered by the ESG.
0:19.8	He got to the point where he won't even say those letters.
0:22.3	Management expert Jeff Sonnefelt
0:24.4	on Black Rock's surprising choice.
0:26.5	The Saudis are entitled to a voice on this board.
0:29.2	They've got a trillion dollars invested in there.
0:31.5	I think they're entitled to a voice, but not this guy.
0:35.3	And actor and crypto critic, from the OC to the Squawkbox set Ben McKenzie on Bitcoin and
0:42.2	the Sam Bankman Freed interview in his new book.
0:45.0	After his empire was, there was nothing there.
0:47.0	The title of that chapter is The Emperor's Butass Naked.
0:51.0	Plus Microsoft on an Activision extension, Warren Buffett cutting his stake in the video game
0:56.1	maker and everything else that got us squawking today.
0:59.7	Can I just say?
1:00.9	You can.
1:01.9	This is really fun.
1:03.0	You never know what it's going to go off the rails.
1:06.0	It's Tuesday, July 18th.
1:08.0	Squack-Pod begins right now.
	...

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