Coinbase’s Results Miss Expectations, SoFi CEO Anthony Noto on Q1 Earnings Beat & States Crack Down on Russia-Linked Metaverse Casino 5/11/22

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 11 May 2022

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors begin today’s show discussing whether the tech bubble has burst with Loup Ventures Managing Partner Gene Munster. Next, CNBC’s Kate Rooney and Mizuho Managing Director Dan Dolev look at the latest results from crypto exchange Coinbase missing the Street’s expectations. Then, SoFi CEO Anthony Noto joins after the personal finance firm posted a beat in Q1, and our Julia Boorstin previews Disney’s earnings after the bell. Later, CNBC’s Dom Chu breaks down the Nasdaq’s top movers to start the morning, and CNBC’s Eamon Javers shares his exclusive coverage of a multi-state crackdown on a metaverse casino with ties to Russia. 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 Carl Kintanilla. You're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern. Listen in.
0:06.9	Good Wednesday morning. Welcome to Tech Check. I'm Carl Kintania with John Fort. Deirdre is live at Google's annual developer conference ahead of a big interview this afternoon. Dee, what's coming up?
0:17.3	Well, this event, Carl, it's still mostly streamed, but we are here as well as a group of Googlers.
0:21.6	We're on the ground in Mountain View next to campus developers too.
0:25.6	Now, this is focused on them, but it's also the place where Alphabet makes big product announcements,
0:30.6	reveals where the company and trends are heading.
0:33.6	And of course, that reverberates throughout the tech community.
0:35.6	This year, of course, it comes as tech is getting slammed in the markets.
0:39.3	Alphabet has lost a fifth of its value.
0:41.3	So what the giant says is going to matter more than ever.
0:44.3	Later on, guys, I will be sitting down with the CEO himself.
0:47.3	Sunder Pichai, I cannot wait to bring that to our audience.
0:50.3	That's going to be key, D, especially on a day where we're watching Fang very closely relative
0:57.9	to the rest of the market.
0:59.2	Meantime, markets are mixed after that latest CPI number showed hotter than expected inflation.
1:03.9	We're watching the Dow up 250, was up 400 plus, but the NASDAQ is down about 35.
1:09.2	Our next guest asks, has the tech bubble finally burst?
1:12.4	And he notes that despite the composite losing more than a quarter of its value since
1:16.5	the 52 week high in November, there could be further to fall.
1:20.1	It's still up by nearly the same amount over the past two years.
1:23.3	Joining us as Loop Ventures managing partner, Gene Munster.
1:26.1	Gene, it's great to have you back.
	...

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