Instagram Pauses Kids Product, Bank of America’s Take on Netflix & Bolt CEO on Company’s 4-Day Workweek

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 27 September 2021

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors kick off the morning with Kindred Ventures Co-Founder Kanyi Maqubela on today’s trendiest stories including Instagram putting its kids product on hold and Google Cloud slashing its marketplace fees from 20 percent to just 3 percent. Maqubela also shares his take on Amazon and Square. Then, CNBC’s Leslie Picker is here to cover hedge funds ramping up their stake in private markets. Next, Bank of America Analyst Nat Schindler joins to talk all things Netflix after the company’s first-ever fan event this past weekend. We also cover the return home of Huawei CFO Meng Wanzhou after years of house arrest in Canada. And later, Bolt Founder and CEO Ryan Breslow joins as the company begins experimenting with a 4-day workweek.

Transcript

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0:00.0	I'm John Fort.
0:00.8	You're listening to CNVC's Tech Check.
0:02.9	Our show is live weekdays at 11 a.m. Eastern.
0:05.9	Listen in. Happy Monday. Welcome to Tech Check. I am John Fort with Carl Kintanilla and Julia Borsden. Today, a rough start for the week for the NASDAQ, falling more than a percent at the open, now taking back some of those losses.
0:37.5	Tech putting pressure on the S&P as well.
0:41.0	Plus the power of Duopoly, why our first guest says tech and the consumer could benefit
0:46.0	from increased competition.
0:48.4	And finally, Tech Check is live from Code here in LA, a series of big interviews all week long. I'm here today to talk
0:56.3	to A&D's Lisa Sue, Carl, and Julia are here tomorrow. Hey, Carl. Hey, we can't wait to join you, John.
1:03.4	First, though, this morning, let's get to Facebook. Head of Instagram, Adam Aseri, joined the
1:07.6	Today Show this morning to announce plans to pause its Instagram Kids project.
1:13.8	Today we want to talk about how we're going to put the work on pause.
1:17.5	I still firmly believe that it's a good thing to build a version of Instagram that's designed to be safe for tweens.
1:23.4	But we want to take the time to talk to parents and researchers and safety experts and get to more consensus about how to move forward.
1:30.3	That public campaign comes ahead of Facebook's global head of safety,
1:35.3	appearance tomorrow in front of the Senate Commerce Subcommittee on Consumer Protection.
1:39.3	Julia, Facebook's market cap falls below a trillion, although we're still hanging on close to 350.
1:45.3	What does it say about the fact that they are doing this?
1:49.6	I think this is Facebook playing all sorts of different kinds of defense.
1:53.6	On one hand, last night they put out this blog post saying, hey, you misinterpreted our numbers.
1:58.7	We're actually not as bad for teens as our younger
2:02.1	kids as the report in the Wall Street Journal indicated. They misinterpreted and misread our own
	...

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