Stories and uncover them in opinion form which is a rather large mandate. [laughter] in order to narrow the funnel i started looking through corporate figures and i saw from an amazing number of in terms of how the transition from the Financial Sector to the Technology Sector since the great financial crisis and one of the numbers that stuck out was a Mckinsey Global institute figure looking at how 80 of corporate wealth was being held in just 10 of firms and those are the firms that were richest in personal data and intellectual property so basically if you are trafficking in these things you are holding the majority of the worlds corporate wealth and the biggest of those firms were the ones that i profile in the book, facebook, apple, amazon, netflix a little bit and google. They make money, all of them, pretty differently but there is some overlap with facebook and google and Digital Advertising but look at apple and they mostly shunned advertising and look to sell their devices and
Why this book and why now . Guest i started this but i guess it was 2017 and i had just taken a job as columnist for the Financial Times where my mandate was to figure out the biggest business and economic stories and cover theinthe cover than am which is another mandate. I saw amazing numbers in terms of transitions in the financial sector. The figure looking at how 80 of corporate wealth was being held at 10 and those are the firms that were the richest in personal data and intellectual property. The biggest of those firms facebook, apple, amazon a little bit. Big and Digital Advertising they have mostly shunned advertising with the devices and technology. You mentioned it isnt an ad driven company but on a whole different basis besides the fact we think of them as being tech do they have one thing in common . Guest it is an interesting point you make because right now they are trying to separate each other as regulators what they do have in common is the Network Effect that i talked
Podcast. Given the political times that we are in and given the height and stocks of amazon, google, facebook and others, but you normally have a pretty broad scope of your coverage the job for the Financial Times by mandate was to figure out where the worlds biggest business and economic stories that cover them in opinion form which is a rather large mandate. I saw amazing numbers in terms of how well they took conditions to the Technology Sector since the great financial crisis and one of the numbers that really stuck out was the Global Institute figure looking at how 80 of corporate wealth was held at 10 of firm into those are the firms that were purchased in personal data and intellectual property so if you were holding the majority of the wealth they were the ones i profiled in the book there is some overlap with facebook and google making Digital Advertising they look at apple and mostly shined advertising. Its a great question. What they do have in common is the Network Effect a
Dance i hope you dance good tuesday morning. Welcome to squawk alley. Im Carl Quintanilla with Morgan Brennan at the New York Stock Exchange jon fortt is live on the ground in vegas covering ces 2020 for us more from him in a few moments we begin with tesla and elon musk in china, the stock opening at an alltime high. Eunice yoon has more elon musk definitely showed his enthusiasm for the Chinese Market and perhaps investors are taking a cue from that today musk did a little dance at a shanghai event which marked the delivery of teslas model 3s made in china to ten customers, to the general public, for the first time he also made several announcements saying that for the model y production would begin for this suv in china. He also said that the model y demand he believed was likely more than all other tesla cars combined he sees future models made in china at this factory and aims to open a Design Center to create an original car for the global market. The plan is to raise the Product
A student youre a farmer youre a construction worker every Single Person every single iranian citizen living in malaysia not even living in iran is being affected and now they have no access to Capital Markets they have no access to banks how is the city how is someone living in malaysia supposed to survive if an entity such as the u. S. Can come in and strong arm the country into shutting down your Bank Accounts like you said kristie a lot of these people are now relying heavily on these crypto currencies but could countries really ever block the use of them because theyre becoming so popular. Were putting the palin being. As the on ramps and they say on ramps and they are fab said our problem theres absolutely no censorship in the network itself so if youre on crypto you can pay with crypto you can own it and transfer and thats one thing but if every tried to move in and out of the National Currencies thats where governments become very significant they can they can ban it they can t