Congress Aims at Venture Capital: Curbing Chinese Competition 10/19/23

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 19 October 2023

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Co-founder of Silver Lake, co-chair of Brookings, and chairman of North Island Glenn Hutchins discusses the geopolitics at play in the Israel-Hamas War, including what’s at stake for global actors at the Saudi Arabia Investors Conference next week. He also shares his reasoning on why so far, the conflict has had little impact on the markets. The House Select Committee on the Chinese Communist Party has sent letters to American venture capital firms including Sequoia, asking them to list investments in groups developing AI, machine learning, chips and quantum that are based or have “significant operations” in China. Rep. Raja Krishnamoorthi (D-Il.) and Rep. Mike Gallagher (R-Wi.) discuss their efforts to curb competition from China, and they share their hopes of bipartisanship in the ongoing race for Speaker. Plus, Wall Street awaits commentary from Fed Chair Jay Powell. Mike Gallagher - 12:10 Raja Krishnamoorthi - 12:10 Glenn Hutchins - 20:29 In this episode: Mike Gallagher, @RepGallagher Raja Krishnamoorthi, @CongressmanRaja Michael Santoli, @michaelsantoli Steve Liesman, @steveliesman Becky Quick, @BeckyQuick Katie Kramer, @Kramer_Katie

Transcript

Click on a timestamp to play from that location

0:00.0	Bring in show music please.
0:03.0	Hi, I'm C. NBC producer Katie Kramer, today on Squawk Pond.
0:09.0	The race for House Speaker, well, still going.
0:12.0	Democrat Congressman Raja Krishnamurthy.
0:14.2	We love democracy so much that I'm voting for Speaker for a 17th time today.
0:19.6	Plus Congress trying to keep competition from China at bay starting with a hard look at
0:24.5	venture capital Republican Mike Gallagher.
0:26.7	What is that center of gravity on which we can build a lasting China policy that will
0:32.2	ultimately be successful in the short term in preventing
0:35.2	a war with China and successful in the long term in winning this technological and economic competition
0:40.0	with China.
0:41.7	And private equity investor Glenn Hutchins on the market risk from a war in the
0:45.4	Middle East. The big issue out there today is can we forge this alliance that
0:49.8	re-ordered the Middle East in a way that can create peace and prosperity for everybody involved, including the Palestinian.
0:56.0	All that today and much more, it's Thursday October 19th, 2023,
1:01.0	Squawk Pod begins right now.
1:03.8	Stand Becky by in three, two, one, queue please.
1:09.2	Good morning everybody.
1:10.2	Welcome to Squackbox right here on CMBC. We are live from the NASDAQ market site in Times Square.
1:15.0	I'm Becky Quick along with Steve Leisman and Mike Santoli.
1:18.0	Joe and Andrew are both off today.
1:20.0	Gentlemen, welcome. Great morning to have both of you here because we've got some serious
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.