Tech Traffic, Burrito Budgets, & Rep. Ro Khanna 10/26/22

Now that the “Davos in the Desert” has wrapped up in Riyadh, Representative Ro Khanna (D-CA) discusses America’s role in the global energy markets, and California’s plan for taxing residents, taxing tech, and taxing the oil companies. For the first time in Alphabet’s recorded history, YouTube’s revenue declined. The platform’s shrinking ad budget could be a warning for the rest of the industry. In other tech earnings reports, Microsoft beat analyst expectations but offered weak guidance, pointing to waning consumer interest. Visa’s CEO and CFO both told investors on the company’s quarterly call that consumer spending and employment are strong and stable, despite potential for a future recession. Plus, Chipotle mentioned waning traffic in its own report, as inflation pressures consumers. 

In this episode:

Ro Khanna, @RepRoKhanna

Joe Kernen, @JoeSquawk

Andrew Ross Sorkin, @andrewrsorkin

Becky Quick @BeckyQuick

Katie Kramer, @Kramer_Katie