Box CEO Aaron Levie on Software Outlook, Snap CEO Evan Spiegel on Cost Cutting Plans & Previewing Apple’s New Product Launch 9/7/22

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 7 September 2022

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Our anchors begin today’s show with New York Times Contributor and “Sway” podcast host Kara Swisher breaking down the latest action from Vox Media’s Code 2022 conference. Then, TPG Director David Trujillo weighs in on the broader landscape for media stocks, and cloud content management firm Box CEO Aaron Levie shares his outlook for the software sector. Next, Snap Co-Founder and CEO Evan Spiegel joins to discuss the social media platform’s restructuring plans, cost cutting measures and more. Later, CNBC’s Steve Kovach previews tonight’s new product reveal from Apple. 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	I'm Dear Jrabosa, and you're listening to CNBC's Tech Check.
0:03.5	Our show is live weekdays at 11 a.m. Eastern. Listen in.
0:10.6	All right. Okay. Well, it's, okay.
0:12.6	Good Wednesday morning. Welcome to Tech Check. I'm Carl Kintini here with John Fort and Dear Durbosa,
0:16.7	live from one of the biggest tech events of the year. Vox Media's Code Conference here in Los Angeles.
0:22.4	Big lineup so far, including Google Sundor Pichai, Mark Cuban, talking about the best and
0:27.0	worst parts of big tech. We'll get more on those comments in a moment. And that's not all.
0:31.2	Tim Cook speaking tonight on the heels of that far-out product event this afternoon, what it all
0:37.3	could mean for the stock later this hour.
0:39.4	And as the tech volatility continues, more from the C-suite exclusives with the CEOs of Box and Snap.
0:45.8	Joining us for a big show, John, one of our favorite times of the year.
0:49.9	Yes, indeed, looking forward to it.
0:51.1	We've got to start today's feed with the tech tumble.
0:54.1	The NASDAG, trying today to end its longest losing streak since 2016, as tech stocks across the board have taken a hit.
1:01.5	Apples down more than 6% over the last month, biggest drag on the NASDAQ yesterday.
1:06.0	And Amazon and Microsoft, both down 10% or more.
1:09.1	Even Bellwethers like Salesforce have erased pandemic gains,
1:12.7	now trading at levels last seen at the very beginning of the pandemic, April 2020, Carl.
1:19.7	John, as we said, big week for tech here at the Code Conference. One of the big issues for
1:23.3	investors, of course, fears of a looming economic slowdown and cuts to corporate forecasts.
1:28.5	The head of Alphabet, Sundar Pichai, on stage with Kara Swisher last night,
1:32.0	talked about the impact of higher costs, uncertainty, and how he wants to make the company
	...

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