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Squawk Pod

‘On the Ticket’: Swifties, Antitrust, & Amazon Rx 01/24/23

Squawk Pod

CNBC

News, Business News, Business, Investing

4.2543 Ratings

🗓️ 24 January 2023

⏱️ 22 minutes

🧾️ Download transcript

Summary

Two months after the Taylor Swift-Ticketmaster debacle, the Senate Judiciary Committee is conducting a hearing on competitiveness in the ticketing industry. Sen. Richard Blumenthal (D-CT) and Sen. Marsha Blackburn (R-TN) share their priorities during the hearing, including antitrust concerns and consumer protections. CNBC’s Bertha Coombs reports on Amazon’s new prescription offering for Prime members: RxPass. Plus, Alphabet CEO Sundar Pichai is defending Google’s massive layoffs while the Department of Justice zeroes in on the company’s dominance in ‘search.’ In this episode: Marsha Blackburn, @MarshaBlackburn Richard Blumenthal, @SenBlumenthal Bertha Coombs @berthacoombs Becky Quick @BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin 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.

0:08.0

The Taylor Swift Ticket Master debacle takes center stage on Capitol Hill,

0:13.9

getting to the bottom of the whole mess

0:15.4

with Democrat Senator Richard Blumenthal.

0:17.7

They control 70% of the primary market

0:20.7

for ticket sales, 80 of the top 100 venues, and this is a system that has to be reformed.

0:26.7

And Republican Marsha Blackburn.

0:28.4

These ticket platforms need to, when they know they've got a bot in their present they need to give that

0:34.6

information to the FTC so that the FTC can go after this so they can be blocked

0:42.3

and alphabet in hot water with regulators and now with

0:45.8

employees, but there's no good way to soften job cuts. Do they have

0:49.4

refrigerators? What do they call? Kegorators. Kegorators.

0:52.8

Kegorators.

0:53.8

That's what Twitter was selling.

0:54.8

Silicon Valley is a different place.

0:56.8

Plus a squawk AI Poetry Slam.

0:59.8

From professional trader to casual investor, the show is a must, no room for dissenters.

1:04.4

And Amazon ramping up its pharmacy.

1:07.2

Did you mention male pattern baldness?

1:09.1

What's the generic for that and does it work?

1:12.4

As being for a friend? It's Tuesday. for that's

...

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