Special Report: Lyft CEO David Risher & Big Tech Earnings 7/21/23

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

4.5 • 66 Ratings

🗓️ 21 July 2023

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

CNBC's Deirdre Bosa previews earnings next week from Microsoft, Alphabet and Meta. Bosa also spoke exclusively with Lyft's new CEO, David Risher, as he gets set to wrap up his first 100 days in office.

Transcript

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0:00.0	And welcome, welcome to a special Friday edition of Tech Check.
0:05.8	I'm Deardre Boza in San Francisco.
0:07.4	Today, the Dow closed in the grain for the 10th day in a row.
0:11.2	It's the longest rally in six years, but Tech,
0:13.8	tech has cooled off this week, and just ahead of the mega cap earnings parade,
0:17.8	we've got Google, Microsoft, Meta, Intel.
0:20.5	Those are the names up next week. Amazon and Apple the following.
0:24.0	Like last quarter, The Magic Bullet,
0:26.0	it may be Artificial Intelligence,
0:28.0	but simply mentioning AI a few times on your earnings call,
0:31.0	or maybe many times, it's not going to cut it. We're now in a new
0:33.6	show me the money era. Invidea was one of the last tech giants to report last
0:37.8	time around. You might remember it's monster surge showing investors AI is here and it's going to book revenue a lot of it
0:45.6	this year so even though we are still in such early innings companies they are
0:49.9	already charging for products Microsoft announcing earlier this week that it would be charging for products, Microsoft announcing earlier this week that it would be
0:54.2	charging for its AI tools and shares promptly hit an all-time high.
0:59.3	The price $30 per user per month.
1:02.5	Pretty steep price and very different
1:05.0	than the era of tech when products like Gmail
1:07.8	were given away for free.
1:09.6	When analyst estimates it could generate
1:11.7	some $14 billion in new revenue a year
	...

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