Elon Musk Becomes Twitter’s Largest Outside Shareholder, Amazon Labor Union President Chris Smalls on Vote to Unionize & Twitch Co-Founder Justin Kan on NFTs in Gaming 4/4/22

TechCheck

CNBC

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

4.8 • 56 Ratings

🗓️ 4 April 2022

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Our anchors start today’s show looking at Twitter after Elon Musk became the social media platform’s largest outside shareholder, with insight from Goldman Sachs analyst Eric Sheridan and Verge Editor-in-Chief Nilay Patel. Then, Amazon Labor Union President Chris Smalls joins after successfully leading the first vote for Amazon warehouse workers to unionize in the company’s history, and Stifel analyst Scott Devitt offers his thoughts on how the union vote could affect the e-commerce giant’s bottom line. Later, CNBC’s Phil LeBeau reports on Tesla delivering a record number of vehicles in Q1, and livestreaming service Twitch Co-Founder Justin Kan discusses gaming companies expanding into NFT offerings.

Transcript

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0:00.0	I'm Deja Bosa and you're listening to CMBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern. Listen in. Oh, Good Monday morning. Welcome to Tech Check. I'm Carl Kaintonia with Deirdre Bosa and John Ford. Today
0:30.1	funding secured. Twitter has a new largest shareholder.
0:34.6	Then the head of Amazon's worker union
0:36.3	after that historic labor victory.
0:38.3	Later on, we're going to explain how the NASDAQ whale got beached.
0:41.5	D.
0:42.3	Carl, we got to start with Twitter, of course. Tesla's. Azeck whale got beached. D.
0:42.6	Carl, we gotta start with Twitter, of course.
0:44.5	Tesla, Zelon Musk, taking a 9.2% stake in the company,
0:48.0	according to a filing shares are spiking some 25% at the moment.
0:52.2	The new position comes shortly after Musk criticized
0:54.6	Twitter for its free speech principles
0:56.6	and even said he was considering starting
0:58.1	his own social media platform.
0:59.7	Musk's tweets, of course,
1:00.8	have gotten him in trouble in the past after his now infamous
1:03.8	420 funding secured tweet. Musk was forced to abide by certain guardrails
1:08.4	around his Twitter use. His response back then? Worth it. It's also worth remembering some relative size here. On the
1:15.0	day of Twitter's IPO, it closed near $45 a share. Nine years later, even with
1:20.7	today's huge pop, it is barely at $49.
1:26.0	Market cap still below $40 billion.
1:29.0	Guys, of course, a lot of questions this morning
	...

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