Lyft’s Disappointing Guidance, Elon Musk on taking Twitter Public & The Future of NFT’s 5/04/22

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 4 May 2022

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

Uber reported surging revenue during the first quarter as the ride-hailing company said it’s recovering from its coronavirus lows and wouldn’t have to put up “significant” investments to keep drivers on the platform. CNBC’s Deirdre Bosa reported on Uber and Lyft's latest first-quarter earnings report. John Zimmer, president and co-founder of Lyft, also discussed the ride-hailing company’s latest quarterly earnings report and broke down how high gas prices are impacting the company and high-cost driver incentives. Elon Musk has told potential Twitter investors that he can return the social media company to public ownership in as little as three years after buying it, according to the Wall Street Journal. Gary Vaynerchuk, founder and creator of VeeFriends, discusses his outlook for the future of nonfungible tokens, or NFTs. Plus, streaming platform Roku is angling to buy a piece of Starz in a bid with Apollo Global Management. In this episode: John Zimmer, @johnzimmer Gary Vaynerchuk, @garyvee Deirdre Bosa, @dee_bosa Andrew Ross Sorkin, @andrewrsorkin Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm C. NBC producer Katie Kramer, today on Squawk Pod.
0:09.0	Speed bumps in ride hailing, Lifts Report prompts competitor Uber to change the timing of an earnings release.
0:15.0	I think this is a Lehman moment.
0:17.0	You never want to use the word Lehman anything.
0:19.0	And both companies may have to spend to get enough drivers on the road,
0:23.0	lived President John Zimmer.
0:24.5	The market wants to understand the business model
0:26.5	coming out of the pandemic, and we asked them
0:28.5	to give us one more quarter to make investments
0:31.2	that we feel like are the right thing to do for long-term profitability.
0:36.2	NFTs from a fad to an asset class with a lot of extras,
0:40.3	entrepreneur and investor Gary Vanner Chuck.
0:43.0	People always communicate through what they own, art, cars, homes.
0:47.0	People are going to communicate through the digital assets they own,
0:50.0	but on top of that those assets may have a utility.
0:53.2	All that today, plus the headlines that got us squawking,
0:56.1	like Elon Musk's latest Twitter tease.
0:58.7	He may return it to the public markets.
1:00.8	I'm told the minimum to get in is 250 million dollars so if you have 250 million
1:06.0	I think there's an opportunity. I need a lot of help Andrew I think we both
1:10.0	would. It's Wednesday may the fourth be with you. Squawk Pod begins right now.
	...

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