C3 AI CEO Tom Siebel on Results, Disney Launches Ad-Supported Tier & HashiCorp CEO Dave McJannet on Q3 Performance 12/08/22

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

4.5 • 66 Ratings

🗓️ 8 December 2022

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors begin today’s show with CNBC’s Frank Holland covering the start of the “Salesforce World Tour” in New York City as CEO Marc Benioff delivers his keynote. Then, Bespoke Investment Group Co-Founder Paul Hickey weighs in on small-cap tech, and C3 AI CEO Tom Siebel breaks down the enterprise software provider’s latest results. Next, Wall Street Journal reporter Tim Higgins breaks down the impact of Elon Musk’s Twitter takeover on Tesla, and our Julia Boorstin looks at Disney Plus launching its new ad-supported tier. Later, CNBC’s Kayla Tausche reports on states banning TikTok on government devices, and HashiCorp CEO Dave McJannet joins after beating the Street in Q3. 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 John Fort. You're listening to CNBC's TechChack. Our show is live weekdays at 11 a.m. Eastern. Listen in.
0:09.1	Good and Thursday morning. Welcome to Tech Check. I'm Carl Kington here with your Dr. Bosa and John Fort in D.C. today.
0:15.0	Is time running out for TikTok? Maryland and Texas banned the app on government devices while Indiana sues over safety
0:22.3	concerns. Then Elon Musk's banker is reportedly considering Tesla margin loans to cut that risky
0:27.7	Twitter debt. Tesla has lost nearly a quarter of its value since Musk became chief
0:32.9	twit. Plus two more earnings exclusives, the CEOs of C3AI and HashiCorp, were with us in just a few moments, John.
0:40.4	Yeah, we're going to start, though, with Salesforce.
0:43.1	That stock is down nearly 20% in December alone.
0:45.8	Loss is accounting for about a quarter of the Dow's decline in December.
0:49.3	This morning, bared downgrades to neutral, the concern growing in part because of the recent exodus of top
0:55.7	executives and questions about the company's ability to execute. This morning, the journal also
1:00.7	reporting that tensions had been growing between co-CEOs Mark Benioff and Brett Taylor for months
1:05.7	before it was announced that Taylor was stepping down last week. Now this morning, Salesforce
1:10.4	looking to shift investor perception.
1:12.6	The Salesforce World Tour kicking off in New York City as we speak.
1:16.6	And Frank Holland has been in the room as CEO Mark Benioff delivers his keynote.
1:20.6	Has some highlights for us.
1:22.6	Frank, what's he saying?
1:24.6	Yeah, you know, CEO Mark Beniof speaking right now. Very upbeat tone by Mark Benioff and very much sticking to the talking points about Salesforce successes and the future growth of the company. Had a chance to speak with him very briefly, shake his hand. He gave me a wink. He was very much the rock star of Wall Street that we all know Mark Benioff to be walking around the room with thousands of people in that room,
1:44.9	definitely making a point to make eye contact with different people and be very personable.
1:48.0	Of course, the elephant in the room is those high profile departures of not only CoCO Brett Taylor, but also the CEOs of Slack and Tablo,
1:56.0	also the Chief Strategy Officer leaving about a month ago.
	...

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