Apple's CFO Change, Meta Pressure on Covid-19 Posts | Bloomberg Technology
28 Aug 2024 (22 days ago)
Apple Leadership Transition
- Apple's CFO, Luca Maestri, who has served in the role for a decade, will be succeeded by Kevin Barak.
- Barak has held various roles at Apple, including analysis and earnings with investor relations, and most recently, financial planning and analysis.
- This transition is part of a larger trend of turnover within Apple's executive team, with executives transitioning to smaller roles rather than fully retiring.
Meta and COVID-19 Censorship
- Mark Zuckerberg stated that Facebook was pressured by the government to censor posts about COVID-19 during the pandemic.
- Mark Zuckerberg wrote a letter to Congress alleging pressure to censor COVID-19 content and expressing regret for acceding to those demands.
- Meta removed or labeled content deemed misleading or misinformation related to COVID-19, actions Zuckerberg now regrets.
- Zuckerberg acknowledged making the decision to remove content and expressed displeasure with the pressure they felt, but maintained that the decision ultimately rested with Meta.
Decentralization and Data Control
- Individuals should be able to decide what is said and how their content is used, rather than large platforms.
- A decentralized internet where individuals have control over their data and identity is needed.
- Technology alone cannot stop all bad human behavior, but people should be held accountable for their actions.
Cribl's Strategic Shift and AI Fatigue
- Clint Sharp states that Cribl is transitioning from a streaming company to a broader data company.
- Clint Sharp says that there is AI fatigue from Cribl's customer base, who want to know how AI will specifically benefit them.
Girls in Tech Closure and Funding Challenges
- Adriana Gascoigne, founder of Girls in Tech, attributes the organization's closure to a lack of funding, citing the COVID-19 pandemic, tech layoffs, the Black Lives Matter movement, and a backlash against diversity initiatives as contributing factors.
New Heights Podcast Acquisition
- Amazon will pay $100 million over three years for the rights to the New Heights podcast hosted by Travis and Jason Kelce.
- The deal includes advertising, merchandise, and a wraparound deal.
- The podcast's popularity surged after Travis Kelce began dating Taylor Swift.
Market Concentration and Tech Stock Performance
- The market has not been as concentrated as it is now since the late 1970s or early 1980s.
- Technology stocks experienced a rapid increase in growth, going from the bottom quartile to the top decile in less than a year.
Economic Outlook and S&P 500 Performance
- The S\&P 500 might be indicating a softer landing than expected, based on its historical performance of double-digit gains in the second half of the year.
SpaceX Launch Delay and Private Spacewalk
- SpaceX delayed the launch of a private rocket due to a helium leak. The launch is part of a mission that would include the first commercial spacewalk.
- The spacesuits that will be used for the spacewalk are designed to withstand the vacuum of space and have heads-up displays inside them.
- Jared Isaacman, who helped fund the development of the space program and will be part of the mission, said that they are aware of the helium leak and are working to resolve it.