Welcome to the Tech Mem Right Home for Friday, February 4th, 2022. I'm Brian McCullough.

Today, that crack you felt in your spine was maybe just the whiplash from the craziest 24 hours in

tech earnings I've ever seen. Amazon has created a bigger advertising business

than the entire newspaper industry. Apple once again shows it can adjust the App Store

Vig when it has to, and of course the weekend long rate suggestions. Here's what

you missed today in the world of Tech.

I've done what 16 earnings weeks for tech since this podcast began and I swear to you

this one has been the wildest one yet.

There were some issues and concerns about Netflix

at the beginning.

But then Apple and Google had record quarters,

so I felt like the narrative was largely unbroken and then of course Meta absolutely

mess the bed and the narrative suddenly became maybe Apple had made things so

difficult for everybody that a lot of people could be in trouble.

You might remember that the stocks of companies like Twitter and Pinterest and Snap were all down.

In fact, you might have been aware that Snap closed down after trading yesterday 23 percent, largely

in sympathy with Meta's 26 percent stock drop.

And yet, this morning, Snap stock opened up more than 45%. So in less than 24 hours,

Snap was down 23% to up 45%. Wait, I thought it was crypto that was so volatile. First

let's see what gives here with Snap. Snap reported its first quarterly net profit ever with

1.3 billion dollars in Q4 revenue up 42% year over year and 23 million dollars

in net income. Fiscal year 2021 revenue grew 64% to a total of 4.1 billion dollars, quoting

...