TikTok Lawsuits, Intern Paydays, & IPO, or No? 6/30/23

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 30 June 2023

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Grimace and his purple McDonald’s milkshake have gone viral on TikTok, and New York Times reporter Sapna Maheshwari discusses all the TikTok headlines, including the TikTok-funded lawsuit from users in Montana, railing against the state’s recent ban. Some of Wall Street’s interns are getting paid as much as $150 an hour, this summer. New York Post reporter Lydia Moynihan says it's part of finance’s pitch to young talent, when competing with less lucrative, but more fun tech jobs. Plus, as the first half of the year comes to a close, the Nasdaq is up nearly 30%, the SEC has concerns about the growing push for spot bitcoin ETFs, Virgin Galactic completed its first commercial space flight, the IPO window has cracked back open, and Shein is denying rumors of its own public listing. In this episode: Lydia Moynihan: @LJMoynihan Sapna Maheshwari, @sapna Joe Kernen, @JoeSquawk Melissa Lee, @MelissaLeeCNBC 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	Whoa, that's a lot of people watching.
0:11.0	Well, Tik-Tock is a very popular application, Joseph.
0:15.1	Tik-Tok, banned, reporter Subnet Mejeshawari
0:18.8	on the social media high stakes.
0:20.8	This case is really important for Tik-Tok's feature in the United States. This case is really important for Tik-Toc's feature in the United States.
0:25.2	The eye-popping payday for interns, Lydia Moynihan of the New York Post.
0:30.4	There are a couple firms on Wall Street that are paying $150 an hour. These are a 20 year old.
0:37.0	Plus, the B word, the F word, the F word.
0:40.0	Yeah, F. Word.
0:42.0	Yeah, F. Bit coin investing at the blue word. word? Yeah, Fidelity.
0:43.0	Bit coin investing at the blue chips.
0:45.0	Oh, it's a toothpaste out of the tube.
0:47.0	Oh, or the horse out of the horn.
0:49.0	The horse you can put back.
0:50.0	Can you go on the tube is pretty impossible.
0:52.0	What about on scrambling an egg?
0:53.2	Commercial space flight, the return of the IPO, and Chinese fast fashion.
0:58.8	They just actually learned how to pronounce it yesterday.
1:00.8	You're not in the market for $8 bathing suits. That's all
1:04.4	ahead today. It is Friday, June 30th, 2023. Squawk Pod begins right now.
	...

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