Motley Fool Money Billions in Lost Business
Jul 26, 2024
David Gardner, co-founder of Motley Fool and Chief Rule Breaker, shares his keen investing insights. He discusses the massive $5B loss across industries due to a critical IT outage by CrowdStrike, emphasizing its financial implications. Gardner also dives into the evolving world of AI and his top stock recommendation, encouraging listeners to navigate this complex space. Meanwhile, the talk touches on Tesla's profitability struggles, Spotify's impressive performance, and up-and-coming stocks like Twilio and Coupang.
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Travel Nightmare
- Matt Argersinger's flight from Boston to D.C. was repeatedly delayed and eventually canceled due to the CrowdStrike outage.
- This personal experience highlights the widespread disruption caused by the outage across various industries.
Billions Lost
- The CrowdStrike outage impacted not only travelers but also businesses, with estimated losses reaching $5 billion.
- The widespread impact of the outage is likely to be a topic of discussion during upcoming earnings calls.
Unsatisfactory Response
- CrowdStrike's CEO, George Kurtz, received criticism for his handling of the outage.
- The market responded negatively, with CrowdStrike's shares dropping about 30%.
