WeWork’s SPAC Debut & Tesla’s Record Quarter

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 21 October 2021

⏱️ 37 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

WeWork is finally making its public market debut as the world of work continues to transform after the coronavirus pandemic. WeWork CEO Sandeep Mathrani and Executive Chairman Marcelo Claure discuss the company’s path to profitability post-Adam Neumann ahead of its debut on the public markets. The WeWork execs also discuss the future of work in a post-Covid world, and how that will impact the company. Tesla reported third-quarter earnings after the bell yesterday that beat on both the top and bottom lines. Jon McNeill, CEO of DVx Ventures and former president of Tesla, breaks down Tesla’s earnings, the company’s growth story and latest innovations. Plus, Bitcoin jumps to a new high after landmark ETF launch. In this episode: Sandeep Mathrani, @WeWork Marcelo Claure, @marceloclaure Jon McNeill, @jonmcneill Brian Sullivan, @SullyCNBC Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin

Transcript

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0:00.0	Bring in show music please.
0:03.0	This is Squack Pod.
0:06.0	I'm CNVC producer Cameron Costa.
0:08.0	Today on our podcast, We Works Public debut.
0:12.0	Finally, the We Work's public debut.
0:17.0	Finally, the We Work Saga, the roller coaster ride, finally culminating in, what else?
0:20.0	A SPAC. How it happened with CEO Sandeep Methrani.
0:23.4	18 months ago if you told me that we worked at sell software I would have said no.
0:27.3	With the pandemic we were able to take and white label what we do for a living.
0:31.4	Softbanks multi-billion dollar bet on co-working remotely.
0:36.0	We work Executive Chairman and Soft Bank Executive Marcello Clore.
0:40.0	Two years ago, the value of Wieburg was zero.
0:43.2	The company was on the verge of bankruptcy.
0:45.2	The fact that we've taken from zero to a valuation,
0:47.9	circa eight, nine billion dollars in two years is great.
0:51.2	And Tesla's record quarter,
0:54.2	former Tesla president also a former lift executive,
0:57.7	John McNeil.
0:58.8	What was most impressive to me is the gross margins.
1:01.2	Three times the gross margin level at GM and about six times the gross margins, three times the gross margin level at GM, and about six times the
1:04.7	gross margin level at Ford, and they seem to be less affected by supply chain issues.
1:09.9	Those big stories, plus the Bitcoin E.T.F. ripple effects. I mean it's pretty
	...

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