Closing Bell Overtime: Andreessen Horowitz’s Katherine Boyle On Investing In “American Dynamism”; Unity Software CEO On Strong Quarter 5/11/23

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 11 May 2023

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Dow closed lower today, dragged down by Disney. The S&P 500 also fell while the Nasdaq ended in the green. 248 Ventures’ Lindsey Bell and Annandale Capital’s George Seay talk today’s market action. CFPB Director Rohit Chopra, who sits on the FDIC Board, discusses the FDIC’s proposal to replenish its $16B hole in deposit insurance after a string of bank failures. He also talks the CFPB’s new guidelines for personal financial data. Unity Software popped after a strong quarterly report; CEO John Riccitiello discusses what’s next. Andreessen Horowitz’s Katherine Boyle joins on the firm’s new investing in “American Dynamism” fund and why founders are excited to invest in companies that move America’s institutions forward. Plus, MoffettNathanson’s Michael Nathanson talks the Disney bull case after its worst day in six months.

Transcript

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0:00.0	Range bound and down at least if you're the S&P or the Dow that's a score card on Wall Street
0:05.5	But the action is just getting started welcome to closing bell overtime. I'm Morgan Brennan
0:09.7	John Ford is off today coming up this hour we're going to talk to
0:12.8	CFPB director roheat Chopra who is also a member of the
0:17.2	FDIC Board of Directors about the latest turmoil in America's banking
0:20.8	system as Regional's tumble once again in trading today.
0:24.3	Plus And recent Horowitz general partner Catherine Boyle will join us to discuss
0:28.6	the firm's half a billion dollar bet on companies that support American progress.
0:34.4	Let's get straight into today's market action.
0:37.5	Joining us now are George C from Annandale Capital and Lindsay Bell from
0:41.6	248 Ventures.
0:42.8	She is also a C. M.C. contributor.
0:44.7	Good afternoon to you both.
0:46.0	George, I'll start with you.
0:47.7	Nasak finished the day up slightly,
0:50.3	and it really was tech stocks that kind of buoyed this market and and and staunch the
0:55.0	launches from being any worse your thoughts.
0:58.0	Morgan High it's a very thin it's a very very rarefied air market right now but the big tech stocks are
1:04.1	holding the market up and propping it up it seems like just about everything else
1:07.8	wants to go down especially banks and energy so I don't know how much longer they
1:11.8	they can keep propping it up because the market really feels heavy right now, but it hangs in there and it's mainly because of all these wonderful big fain stocks and tech stocks that have had such a good year so far.
1:21.2	Yeah, Lindsay, it really feels like the Bulls and Bears
	...

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