Nextdoor CEO Sarah Friar on Results, Breaking Down the State of Enterprise Spending & A Look Back at Past CNBC Disruptor 50 Companies 5/16/22

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 16 May 2022

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors begin today’s show with CNBC’s Mike Santoli explaining similarities and differences between the current sell-off and the dotcom crash, and Satori Fund Founder Dan Niles offers his outlook following last week’s volatility. Then, neighborhood social networking platform Nextdoor CEO Sarah Friar joins after beating the Street in Q1 but posting a miss on guidance, and CNBC’s Dom Chu breaks down Nasdaq names still trading near their 52-week lows. GGV Capital Managing Partner Jeff Richards also shares his perspective on enterprise spending, and our Julia Boorstin covers some of the best and worst performing stocks to have been included in CNBC’s Disruptor 50 list. Later, CNBC’s Courtney Reagan looks at the state of consumers in the U.S. based on trends from retailers including Amazon and eBay. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0	I'm Julia Borsden, and you're listening to CNBC's Tech Check.
0:03.5	Our show is live weekdays at 11 a.m. Eastern, listen in.
0:08.1	Happy Monday. Welcome to Tech Check. I'm John Fort with Dea Jibosso. Carl is off.
0:12.7	We've got to start with this market. Six straight weeks of declines for tech stocks.
0:17.2	NASDAQ has lost a quarter of its value since its 52-week high.
0:21.6	And while Friday's balance might have provided some relief, we're starting off this week, yet again in the red.
0:27.6	Tech and Consumer Discussionary underperforming today.
0:30.6	The XLK Tech sector fund down, let's see, how much?
0:34.6	About 1.5 percent right now.
0:38.9	I get the sense there's got to be some bargains in here, but it's hard to know which ones.
0:44.8	I mean, you look at Shopify, it is off, oh my goodness, like 11% today alone.
0:50.6	It's down trading at levels from late 2019, but then Coinbase is also off 10%. And,
0:56.3	you know, there's a lot of that leverage to crypto. And we've got the questions about crypto right
1:01.8	now. It's hard for investors to know what to do. Yeah, we sure do. And something we're going to be
1:05.6	exploring throughout the show is some of those similarities or maybe not similarities to the dot com
1:10.4	bubble. Spoiler alert,
1:11.6	we are not there. But also, John, we're going to look at enterprise spending, right? We think
1:17.0	about the last few weeks of earnings. You have a Microsoft that has held up relatively better,
1:20.8	at least its results were. Could that be the next shoe to drop, right? We've seen a hold up
1:25.8	relative to e-commerce, relative to consumer
1:29.2	devices and spending in terms of the tech sector. So what's happening now over the weekend?
1:35.1	We had another venture capital firm, John. Craft Ventures weren't its portfolio companies. You've got
	...

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