Ford’s $11B Plan, Benchmark’s Bill Gurley, & #KenGriffinLied

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 28 September 2021

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

Ford has announced a $11.4 billion deal to build four new battery and EV factories through a joint venture with South Korean battery maker SK Innovation. Ford CEO, Jim Farley, spoke with CNBC’s Phil Lebeau about Ford’s ambitious electric vehicle plan and what it means for American jobs and the U.S. supply chain. Data analytics company Amplitude (AMPL) has listed on the Nasdaq via direct listing, rather than a SPAC or traditional IPO. Amplitude CEO Spenser Skates and renowned venture capitalist Bill Gurley of Benchmark discuss the debut, tech valuations, and the flaws in the IPO process. Senate Republicans blocked a House-passed bill that would prevent a government shutdown and a potential default on U.S. debt. As the deadline to avoid a government shutdown and a debt default approaches, lawmakers are on the clock to pass an appropriations bill and to suspend or increase the debt ceiling. Plus, Fed Presidents are stepping down and #KenGriffinLied is trending on Twitter as more GameStop drama unfolds. In this episode: Jim Farley, @jimfarley98 Spenser Skates, @spenserskates Bill Gurley, @bgurley Phil Lebeau, @Lebeaucarnews Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin

Transcript

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0:00.0	Bring in show music please.
0:04.0	This is Squawk Pod. I'm C. M. C. C. C. C. C. C. C. C. C. C. C. C. C.
0:08.0	C. A. A. A. Ford, super charging its EV plans with four new factories and 11,000 new jobs, the single
0:18.4	largest investment Ford has ever made at one time, CEO Jim Farley.
0:23.4	What you're learning here and seeing from Ford
0:26.1	is not just a big investment to scale electric vehicles,
0:28.9	but we are creating a local supply chain. Another software company makes its market debut. CEO of
0:36.4	amplitude Spencer Skates on the how and the why of his direct listing.
0:41.6	If I'm a CEO and I'm selling stock, I want to get the best price for that stock out on the open market.
0:47.0	Selling a dollar for 50 cents absolutely makes no sense at all.
0:50.0	And one of his backers Silicon Valley legend Bill Gurley.
0:54.7	All the companies that have chosen the direct listing path and they wildly outperform
0:59.2	their IPOPers, which I think is interesting.
1:01.6	Those stories plus Fed Presidents stepping down.
1:06.0	And we're getting social.
1:08.0	On Twitter, more GameStop drama is unfolding,
1:11.0	and we've got some squawk shoutouts of our own.
1:13.5	I saw somebody yesterday saying you know what's the price to get mentioned on that show?
1:17.1	You know what it's free you jerk I'll mention you for free.
1:20.0	Bullshitsu.
1:21.2	It's Tuesday September September 27th, 2021.
1:24.9	Squack Pod begins right now.
	...

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