Is the Crash Already Here?, Sony Pictures CEO Ahead of New Spider-Man Release & Founders Fund’s Keith Rabois on the Future of Fintech

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 16 December 2021

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors start off the morning with shares of Adobe plummeting on weak guidance. Then, we are joined by Craft Ventures Co-Founder David Sacks, who says the crash is already here – it’s just not very evenly distributed. Sacks, who was an early investor in Reddit, also shares his thoughts on the social media company confidentially filing to go public. Next, Sony Pictures Chairman and CEO Tony Vinciquerra is here to discuss the upcoming release of “Spider-Man: No Way Home” as well as omicron’s potential impact on theater goers. We also have Founders Fund General Partner Keith Rabois to discuss tech valuations, Shopify, buy now, pay later and so much more. Then, CNBC’s Scott Cohn is here with the latest details on the Holmes trial as closing arguments begin today. And later, we cover Apple’s latest COVID-19 precautions.

Transcript

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0:00.0	I'm John Ford.
0:00.8	You're listening to CNBC's Tech Check.
0:02.9	Our show is live weekdays at 11 a.m. Eastern.
0:05.9	Listen in. Good Thursday morning. Welcome to Tech Check. I'm Carl Kintanilla with John Fort and Julia Borsden.
0:30.0	Today it has been a volatile 24 hours. The NASDAQ rallying more than 2% yesterday down again this morning.
0:36.7	We got two members of the PayPal
0:37.8	Mafia, investors David Sacks and Keith Ravoy to talk about why it's been such a tough two
0:42.3	months for tech, even as broader indexes remain near record highs. Speaking of a stock that's
0:47.0	done well, Adobe falling sharply despite this revenue beat, what cloud and software stocks,
0:52.2	if any, you're safe to own right now. Plus one IPO to come in 2022, Reddit, confidentially filing to go public.
0:59.0	We're going to talk with some early investors in the company.
1:02.0	This hour, John.
1:03.0	Yeah, and we will start with Adobe and falling cloud-related stocks.
1:06.0	Cloud and software names have been at the center of the sell-off in tech.
1:10.0	Those ETS down double digits in the last
1:13.0	month. Hit hardest have been companies that don't yet have profits or where the multiples are highest.
1:18.3	As for Adobe, well, that's not the case with that company. Earnings in line, revenue beats. It's the Q1
1:23.0	guide that's coming in below some estimates. Shares are falling sharply this morning.
1:27.3	CEO, Sean Tune-Iran, who we spoke to on Monday, is on the call, which is starting as we speak.
1:32.4	He'll be on Mad Money tonight at 6.
1:35.4	Lastly, we will just point out, Adobe's still up 15% year-to-date.
1:40.5	And if you go out multiple years, it's one of the single best performing stocks in the
	...

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