Woz on AI, Disney’s “Significant Transformation” & How Billionaires Save on Their Tax 02/09/23

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CNBC

News, Business News, Investing, Business

4.2 • 543 Ratings

🗓️ 9 February 2023

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

Disney says it will slash 7,000 jobs from its workforce and plans to cut $5.5 billion in costs, including $3 billion in content savings. CEO Bob Iger says the restructuring is a “significant transformation” that will maximize the potential of their creative teams. Apple co-founder, Steve Wozniak, discusses the power of artificial intelligence, the metaverse, Tesla, and his long career at Apple. Plus, how the rich are saving billions in taxes. ProPublica Reporter, Paul Kiel, says some wealthy Americans are using a century-old law against "wash sales" - selling and buying shares in a company in a short period of time. In this episode: Steve Wozniak, @stevewoz Paul Kiel, @paulkiel Becky Quick @BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin 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 Squackpot.
0:08.0	Steve Wozniac, the Apple co-founder on Artificial Intelligence.
0:13.0	We call it Intelligence, but we don't know how the brain really works.
0:16.0	We pretend we do and we don't.
0:18.0	His long career at Apple, the power of the brain, and so much more.
0:22.0	Well, I was at a company where the engineers did figure out how to make a brain.
0:25.0	It takes nine months.
0:27.0	Funny.
0:28.0	Disney unvails a massive restructuring that the new slash old CEO Bob Eiger says empowers creators at the house of mouse.
0:36.4	And for some reason I thought of us.
0:38.4	For some reason.
0:39.4	Creative engines of a company need to have the freedom to do that creation.
0:46.0	And how the rich save billions in taxes by skirting a 1920s law, ProPublica's Paul Kiel.
0:54.0	The law is essentially, if you're a sophisticated investor,
0:56.0	it's very easy to get around.
0:58.3	It's Thursday, February 9th, Squack-Pod begins right now. Stand Becky by in three, two, one, queue please.
1:07.0	Good morning everybody.
1:09.0	Welcome to Squack Box here on C.
1:11.0	We are live from the Nasdaq Market site in time square. I'm Becky
1:14.1	quick along with Joe Kernan and Andrew Ross Sorkin and let's tell you what's
1:17.9	happening. Good afternoon. It's my pleasure to welcome everybody to the Walt Disney Company's first quarter
	...

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