DoorDash CEO Tony Xu on Inflation, Volatility Weighs on Software Stocks & Nvidia Announces New Products 9/20/22

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 20 September 2022

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors begin today’s show with Satori Fund Founder Dan Niles offering his predictions for how the market could respond to this week’s Fed meeting. Then, DoorDash Co-Founder and CEO Tony Xu joins for an exclusive interview on the delivery platform’s new partnerships, consumer sentiment and outlook for inflation. Next, Morgan Stanley analyst Erik Woodring takes a deep dive into the demand picture for Apple’s new iPhones, and Bessemer Venture Partners’ Elliott Robinson discusses the volatility weighing on software stocks. Later, CNBC’s Kristina Partsinevelos reports on chipmaker Nvidia’s latest product announcements. 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 CNVC's Tech Check. Our show is live weekdays at 11 a.m. Eastern. Listen in.
0:09.3	Good Monday morning. Welcome to Tech Check. I'm Carl Kintanilla with DeRbosa and John Ford. Who is live in
0:15.0	Las Vegas. More on that in a moment. Invitya is kicking off their developer conference as we speak.
0:20.8	Shares more than
0:21.4	60% off the 52-week high. Can the company boost that falling stock price? We'll bring you the
0:26.4	highlights throughout the hour. Plus a check on iPhone demand and what that might mean for Apple shares.
0:31.4	Company planning some price hikes and dealing with some camera bugs. We'll get details on that.
0:36.7	And then inflation, of course, top of mind for investors
0:39.0	ahead of the Fed decision tomorrow.
0:40.7	John, you were in Las Vegas this morning
0:43.2	for the grocery shop conference,
0:45.1	and that's gonna lead to some very special guests today.
0:49.6	Yes, it will.
0:50.6	Tony Shue is gonna join me on stage.
0:53.8	We'll have a conversation as we did, last year on this very day. Last year they were announcing alcohol delivery. Since then, inflation has become an important story. And as we know, margins tend to be pretty narrow in grocery. But DoorDash has managed to continue to grow organically about 20% year over year.
1:14.5	They got some announcements today that we'll get into new partnerships.
1:18.3	Now, they recently kind of undid a partnership with Walmart, which is a huge player in grocery,
1:23.4	but they got some more partnerships going on, got some questions about the impact of this
1:27.3	economy on the labor force,
1:29.1	availability of drivers, which they called dashers.
1:32.0	And also some M&A.
1:33.2	They just closed a deal at the beginning of the summer.
	...

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