Silicon Valley’s Political Divide & Trump Media’s Stock Surge 10/30/24

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 30 October 2024

⏱️ 20 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Silicon Valley is split over the 2024 US Presidential election - Elon Musk and Mark Cuban are making waves, while Mark Zuckerberg has chosen to sit this one out. Chris Kelly, Kelly Investments founder and former Facebook general counsel and chief privacy officer, discusses the role of business leaders in this election, the future of Crypto, and Kelly’s support for Vice President Kamala Harris. CNBC’s Robert Frank reports on shares of Trump Media and its rollercoaster trading session. Trump owns nearly 57% of the company, which operates the Truth Social platform. His stake at Monday’s closing price was worth upward of $5.4 billion. Plus, Reddit’s bet on AI pays off and Starbucks ditches its olive-oil infused coffee. Chris Kelly - 2:27 In this episode: Robert Frank, @robtfrank 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.
0:09.0	Candidates aim to close the corporate vote.
0:12.0	Vice President Kamala Harris has some back and forth
0:14.9	support from her own backyard, Silicon Valley.
0:17.7	Former Facebook General Counsel
0:19.6	and one-time Harris political opponent,
0:22.2	Chris Kelly explains her journey.
0:24.0	There's always been a solid base of, you know, pro-business,
0:27.3	moderates who just want to make sure that we're doing fantastic things
0:30.8	to further the economy and I think that that's where
0:34.0	Kamala Harris has ended up leading the pack.
0:37.0	And the surprising rise of DJT media, the parent company of
0:41.6	former President Trump's truth social valued as much as
0:44.8	X but what does it do really?
0:46.8	NBC's Robert Frank reports.
0:48.8	Donald Trump heads into this election nearly twice as wealthy as he was in the last two elections.
0:54.1	Plus Starbucks Nix's olive oil in your coffee and AI has entered the
1:00.2	subreddit. They were trying to ask you then too? They were trying to ask you then too?
1:03.0	They were trying to ask me then too.
1:04.0	30 years.
1:05.0	Keep trying.
	...

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