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ServiceNow CEO on Acquisition of Mapwize, Snap Creators Leave the App’s Spotlight Feature & Exclusive Interview with Marqeta CEO Post-Earnings

TechCheck

CNBC

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

4.566 Ratings

🗓️ 12 August 2021

⏱️ 44 minutes

🧾️ Download transcript

Summary

To start off the morning, our anchors have all the details on new legislation aimed at Big Tech’s app stores, a deal falling through between Instacart and Doordash and a recap of Palantir’s latest earnings report. Then, ServiceNow CEO Bill McDermott joins as cloud stocks have been on a tear recently to speak about the company’s acquisition of Mapwize and much more. Next, CNBC’s Sal Rodriguez is here with the story on Snap creators leaving the app’s Spotlight feature as payments dry up. Later, Marqeta CEO Jason Gardner joins after the company’s first earnings report since going public to discuss the company’s growth in the ‘buy now, pay later’ vertical. Plus, CNBC’s Jon Fortt brings us the highlights from his conversation with LinkedIn Co-Founder and Microsoft Board Member Reid Hoffman yesterday at the Economic Club of Chicago. Then, CNBC’s Kate Rooney is live from Wyoming with the story on the state’s recent crypto boom. Plus, Parrot Analytics Senior Strategy Analyst Julia Alexander joins us to give her take on streaming ahead of Disney earnings set for after the bell today.

Transcript

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0:00.0

I'm Deerreboza and you're listening to CNBC's Tech Check.

0:03.5

Our show is live weekdays at 11 a.m. Eastern. Listen in. Happy Thursday, welcome to Tech Check.

0:26.3

I'm John Fult with Call King Tania and Deirdre Bosa.

0:28.7

Coming up on the show today, the Senate might agree on more than just roads and bridges.

0:32.7

A bipartisan bill introduced taking aim at Apple and Google's app store power.

0:37.4

Plus, not so fast on delivery,

0:39.5

DoorDash is reportedly explored a $50 billion deal to buy Instacart. Well, we will talk the

0:46.3

speed bump that killed those talks. That sounds like a big number, but maybe not quite that

0:50.1

big. And then Palantir sees a huge jump in revenue growth, but its SPAC strategy is catching

0:56.1

our eye this morning. More on how the company is investing in other tech companies, Carl.

1:02.1

All right, John, first up in the feed today, Congress opening the side door. A bipartisan

1:07.2

group of senators unveiling a new piece of legislation aimed at cracking down on Apple and Google's mobile dominance.

1:14.2

The new bill would bar the tech giants from forcing developers to use their app stores and payment systems.

1:19.3

It would also let developers tell their customers about lower prices on their own platforms.

1:24.5

In response, Apple said in a statement that its app store is, quote, the cornerstone of our work

1:29.0

to connect developers and customers in a way that's safe and trustworthy. However, the bill would

1:33.9

create exceptions for actions by the major players to protect user privacy and security. So here we are,

1:40.6

once again, Dee, back to the app store, and the degree to which it's either a safe haven or a difficult garden to work in for developers.

1:49.2

Yeah, here we go again. And we know the line from Google and Apple. They've created these walled gardens, these safe places where consumers can feel good about what they're getting and the way that they're paying.

1:58.9

But, you know, John, payments has been such a critical part for lots of different companies. I mean, you look at

2:04.7

eBay's results last night, and Carl, I know you spoke to CEO, Jamie Ioni. He said payments is really

2:09.4

a critical part of his so-called tech-led strategy. After ending that PayPal partnership, he said

...

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