Facebook Under Fire, Former CBS CEO on SPAC Launch & Freshworks CEO on Public Debut Today

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 22 September 2021

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Our anchors start off with a full feed of Facebook news with the stock down nearly 4 percent this morning. Then, The Margins Founder Ranjan Roy joins to give his take on Chinese tech stocks, including why he’s bullish on JD.com. We also cover the move in Adobe’s stock after its latest earnings report released last night. Next, Former CBS CEO Joe Ianniello joins as he launches his own media and tech focused SPAC today called Argus Capital Corp. Then, CNBC’s Kate Rooney joins to speak with Robinhood’s Chief Product Officer as the company announces new crypto features. We also bring you the details on new product announcements from Microsoft’s ongoing Surface event today. Later, we have Squarespace CEO Anthony Casalena as the company takes on Shopify with a slew of new e-commerce tools. Plus, Freshworks CEO Girish Mathrubootham joins live from the Nasdaq on the company’s public debut today. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

Click on a timestamp to play from that location

0:00.0	I'm John Fort. You're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern. Listen in.
0:06.5	Good Wednesday morning. Welcome to Tech Check. I'm Carl Kintania with John Ford and Julia Borsden.
0:11.1	Today, it just needs to stop. Mark Benioff weighs in on the Facebook and misinformation stories,
0:17.3	and we debate the effectiveness of their oversight board. Plus Netflix pops, Disney drops, Stitch is fixed.
0:23.6	Breakdowns on today's biggest stock movers straight ahead.
0:26.6	Later on, between the regulatory crackdown and not ever grand,
0:29.6	are Chinese stocks investable right now, an argument for yes this hour with one specific name in mind, John.
0:36.6	Yeah, and we start with Facebook as several headlines top our own feed this morning.
0:41.6	First is Project Amplified, an in-house initiative at Facebook that targets pro-Facebook stories to news feeds.
0:48.4	It's designed to distant Zuckerberg from scandals pivot the public image of the social network to a positive one.
0:55.1	Then the lawsuits to groups of Facebook shareholders suing the company saying they overpaid on the FTC Cambridge
1:00.6	Analytica fine to shield Zuckerberg and other top execs from any deposition or personal liability.
1:06.3	And finally, the oversight board, not waving the white flag on how Facebook treats its so-called VIP users.
1:12.8	If history is any indication, the board will mull it over for a few months before kicking
1:17.9	it back to the company to make a decision of its own, but still highlighting Facebook and the need for more transparency.
1:25.1	And Salesforce CEO Mark Benioff, who once said Facebook is the new
1:29.4	cigarettes, weighed in on all of this last night. I believe in redemption. I believe in pardoning.
1:36.9	I hope that one day they'll make the change, but today, wow, it's just unacceptable to see
1:40.8	this kind of behavior in such a large and important company like that.
1:44.5	If you look at what's going on in the pandemic and just the amount of information that's just
1:48.9	plain wrong that's on there, it's just, you know, this is, this has to stop.
1:55.4	And if that weren't enough, Julia, you have more on these advertising headlines we're seeing, right?
	...

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.