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Platformer Editor Casey Newton on Facebook Cornering VR, 23andMe CEO on Public Debut Today & Google’s First Retail Store Opens in NYC

TechCheck

CNBC

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

4.566 Ratings

🗓️ 17 June 2021

⏱️ 42 minutes

🧾️ Download transcript

Summary

Platformer Editor Casey Newton joins us this morning to discuss his latest article diving into Facebook’s current cornering of the virtual reality market. We also have the scoop on Microsoft CEO Satya Nadella taking on an additional role as chairman of the board. Then, Cowen CEO Jeffrey Solomon joins us to speak about the IPO and SPAC market. We also have CNBC’s Meg Tirrell interview 23andMe CEO Anne Wojcicki on the company’s SPAC merger and market debut taking place today. Later, our anchors wrap-up the latest on tech companies in China with Bytedance seeing a revenue surge and Didi facing an antitrust probe ahead of its IPO. Also, Google is opening its first retail store in New York City today and we chat with CNBC’s Steve Kovach live from the storefront in Chelsea. 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 Carl Kintanilla. You're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern.

0:05.9

Listen in. Good Thursday morning and welcome to Tech Tech. I'm Georgia Bosa with John Ford and Julia

0:11.4

Borsten. Carl has the morning off. Today, Facebook targets the VR market and tests out Oculus

0:17.8

ads, an exclusive with the CEO of 23 and me as they go public through Richard Branson's spec.

0:24.8

And Satya Nadella adds the title of chairman to his LinkedIn.

0:33.4

Check out the Dow underperforming the rest of the market lower for a fourth straight day.

0:37.8

The longest losing streak since January, although stocks have put the brakes on yesterday's bed-induced slide,

0:44.0

the NASDA continues to lead on path for a fifth straight weekly gain, and tech is the top performing sector.

0:51.0

Yeah, and big tech regulation moves ahead.

0:53.5

A slew of bipartisan bills targeting giants like

0:55.6

Amazon and Google. Getting an extra boost yesterday with House Judiciary Chairman Jerry Nadler

1:00.9

backing up his colleagues on Capitol Hill. The world's biggest companies are opposed to many

1:06.1

global efforts to curb their growth. Apple's Tim Cook speaking yesterday at Viva Tech.

1:12.0

The current DMA language that is being discussed would force side loading on the iPhone.

1:20.1

And so this would be an alternate way of getting apps onto the iPhone. As we look at that,

1:26.1

that would destroy the security of the iPhone and a lot of the privacy

1:31.5

initiatives that we built into the app store. Cook, they're taking issue with the Digital

1:36.5

Markets Act, an EU proposal, which would designate large companies like Apple as gatekeepers

1:41.6

and crack down on their market dominance by restricting

1:44.9

data sharing and self-preferencing. Now, Cook praised other efforts like the Digital Services

1:50.7

Act, which would push for transparency on content moderation. Now, despite this bipartisan push to

1:56.5

regulate, there is still some opposition with House Republican leader Kevin McCarthy.

...

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