Money Talks: Double bubble, is tech in trouble?
Money Talks from The Economist
The Economist
4.4 • 1.2K Ratings
🗓️ 8 September 2020
⏱️ 26 minutes
🧾️ Download transcript
Summary
The rise and rise of American stockmarkets has faltered; what is behind the selloff in tech shares? Netflix has had a blockbuster year but faces rising costs and stiff competition. Its co-founder Reed Hastings argues the American streaming giant still has plenty of room to grow. And, what is wrong with the concept of “net zero” carbon emissions? Patrick Lane hosts.
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Transcript
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| 0:00.0 | What goes up can also come down? Tech stocks rise looked unstoppable, but lately they've |
| 0:11.1 | taken a tumble. |
| 0:16.0 | Watching investors make of the market's jitters. |
| 0:21.0 | You're listening to Money Talks on Economist Radio, our weekly podcast on the markets, the economy, and the world of business. |
| 0:25.8 | I'm Patrick Lane, Deputy Digital Editor at The Economist. |
| 0:30.6 | And coming up on today's show, Reed Hastings, co-founder and co-c CEO of Netflix on how to make TV by algorithm pay. |
| 0:39.0 | We want to produce content that you, our members, want to watch, and so we measure it is how much |
| 0:45.3 | watching does it get compared to how much it costs and more countries and businesses |
| 0:49.8 | say they want to reach net zero carbon emissions, but is that just a lot of hot air? |
| 0:56.0 | The idea that if you unilaterally reduce your carbon production, |
| 1:01.2 | that you'll then stop contributing to climate change. |
| 1:04.0 | But that's just wrong unless you're going to stop trading. The rise and rise of American stock markets has faltered. The technology heavy |
| 1:19.5 | NASDAQ index fell by more than 3% on Tuesday's opening, and that came after consecutive falls |
| 1:25.1 | on Thursday and Friday for the tech stocks that drove a record-breaking summer. |
| 1:29.8 | Investors who had hoped that the long Labor Day weekend would calm fears about further falls |
| 1:34.7 | will still be feeling anxious. |
| 1:36.4 | So last week the S&P 500 was down 2.3%, the NASDAQ was down 3.3% led by all of the big tech stocks, so Tesla, Amazon, Google, Microsoft, Facebook. |
| 1:47.0 | Alice Fullwood is the economist's Wall Street correspondent. |
| 1:50.0 | And that has continued this morning. |
| 1:52.0 | The Nasak opened down more than 3%, led by all those big tech |
| 1:56.6 | names which were largely down more than 5%, and in particular Tesla, which was down almost 20% when it opened this morning. |
| 2:04.0 | At the end of last week Alice there were reports that part of the explanation both for the |
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