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Squawk Pod

The Restaurant Recovery with Toast CEO; Boosting Boosters; Rivian’s IPO

Squawk Pod

CNBC

Business News, Investing, Business, News

4494 Ratings

🗓️ 10 November 2021

⏱️ 27 minutes

🧾️ Download transcript

Summary

Toast, the app that helped power many restaurants through Covid-19 shutdowns, released its first quarter results as a public company. CEO Chris Comparato explains how his platform supports small businesses, and how his own strong metrics indicate a strong recovery for the rest of the industry. Pfizer has asked the FDA for broader authorization of its Covid-19 booster shot; the Brookings Institution’s Dr. Kavita Patel shares her expectations for third and even fourth booster shots as we fight our way through the pandemic. In Washington, President Biden met with U.S. corporate leaders to strategize fixes to the global supply chain as the holiday season begins. In New York, only about half of office workers are headed back to their cubicles by the end of January. CNBC’s Robert Frank reports that since 1 in 5 NY office workers will be working permanently from home come 2022, companies are planning to cut New York footprints. Plus, Amazon-backed electric vehicle Rivian is set to go public at a whopping implied valuation of $106 billion, and Elon Musk is working out his liquidity problems. In this episode: Robert Frank, @robtfrank Dr. Kavita Patel, @kavitapmd Chris Comparato, @ChrisComparato Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Katie Kramer, @Kramer_Katie

Transcript

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0:00.0

Bring in show music please.

0:04.0

This is Squawk Pod. I'm C. NBC producer Katie Kramer.

0:08.0

Today on our podcast, A Boost for Boosters, Pfizer's latest push with Dr. Kavita Patel.

0:14.0

10,000 patients, average age of 53 years,

0:17.0

demonstrated that a third shot on an average of six months after the second dose

0:21.0

raises that efficacy to about 95%.

0:25.0

And toast, the platform that powered many restaurants through the pandemic is now a public company,

0:31.0

CEO Chris Camporato on his first quarter in the industry's recovery.

0:34.8

Restaurants are turning a corner and while the last 20 months have been difficult, we're

0:39.9

super excited that this validates, we're on the right path.

0:43.0

Those stories plus a huge electric vehicle IPO, empty offices in NYC, and Kinks in the supply

0:49.8

chain hitting a little too close to our holiday spirit.

0:52.8

The little marshmallows were sold at when I looked yesterday.

0:55.1

Actually, they were.

0:56.6

Yeah.

0:57.6

It's Wednesday, November 10, 2021.

1:00.4

Squack-Pod begins right now.

1:02.4

Stand Becky by in three, two. one Squawk Pod begins right now.

1:02.5

Stand Becky by in three, two, one, fuel please.

1:07.1

Good morning, everybody.

1:08.3

Welcome to Squawk Box here on C.

1:10.4

I'm Becky Quick, along with Joe Kernan. Andrew is hosting day two of the Dealbook conference today.

...

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