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Bloomberg Tech

Snap's Layoffs and Zuckerberg's New Branding

Bloomberg Tech

Bloomberg

Tech News, News, Business News

4.470 Ratings

🗓️ 31 August 2022

⏱️ 41 minutes

🧾️ Download transcript

Summary

Bloomberg's Emily Chang breaks down why Snap is laying off hundred of workers, as two top ad executives leave the company to go to Netflix. Plus, did Mark Zuckerberg's rebranding efforts on the Joe Rogan podcast really work? 

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Transcript

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0:00.0

Join global business leaders and investors at the Bloomberg Sustainable Business Summit, returning to Singapore on July 31st.

0:09.0

Take part in solutions driven discussions on how to drive business value and unlock opportunity

0:14.8

while remaining nimble in times of change and greater ESG accountability.

0:19.5

Learn more at Bloomberg Live.com slash sustainablebiz Singapore. That's Bloomberg Live.com slash Sustainable Biz Singapore.

0:24.0

That's Bloomberg Live.com slash sustainable Biz Singapore.

0:28.0

From the heart of where innovation, money and power collide,

0:35.0

in Silicon Valley and beyond,

0:38.0

this is Bloomberg Technology with Emily Chang. I'm Emily Changi San Francisco and this is Bloomberg Technology coming up in the next hour.

0:59.3

Add Snap to the list of big tech names laying off hundreds of workers.

1:04.0

This is two top ad execs leave Snap for Netflix.

1:08.0

The slowdown in revenue growth being felt across the tech industry

1:11.0

and some companies like Netflix are turning to ads as the answer.

1:16.0

Plus Mark Zuckerberg's conversation with Joe Rogin offered a glimpse into his vision for

1:21.0

meta, but the tough reality is that Vision hasn't changed much since Facebook

1:25.1

bought Oculus back in 2014 and people just don't seem that into it.

1:31.1

And we continue our Ed Tech after a new poll shows less than half of American

1:35.8

support President Biden's student debt relief plan.

1:38.6

We will also chat with the CEO of the textbook maker, Pearson, who thinks NFTs could be a new revenue stream.

1:47.0

All of that in a moment, but first let's get a look at Snap slashing staff, scaling back on investments

1:51.2

to rein in costs after a broader pullback on ad spending, snapping

1:56.0

its sales growth this year.

1:57.3

Snapchat's parent company, the latest in a wave of tech layoffs that has plunded the

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