Dan Ives, the Global Head of Technology Research at Wedbush Securities, dives into Linda Yaccarino's abrupt resignation as CEO of X after two tumultuous years under Elon Musk. He discusses the fallout from Yaccarino's attempts to stabilize advertising revenue amid controversy. The conversation also touches on the shift in corporate dynamics at Tesla, the implications of new U.S. trade policies, and the explosive growth of Nvidia as it surpasses a $4 trillion market cap, all while navigating a complex geopolitical landscape.
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insights INSIGHT
Tesla Board Needs Guardrails
Elon Musk’s political ventures create uncertainty for Tesla’s board and investors.
The board must establish guardrails amid political distractions to protect shareholder value.
insights INSIGHT
Tesla’s Edge Despite Chinese Competition
Tesla still leads globally in EV technology despite fierce Chinese competition.
Success hinges on autonomous vehicle and robotics technology as the next growth frontier.
question_answer ANECDOTE
Elon Musk Tells Dan Ives to Shut Up
Dan Ives received a viral "shut up" tweet from Elon Musk in response to his Tesla recommendations.
Despite the backlash, he values open dialogue to address shareholder concerns.
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Linda Yaccarino, who was hired two years ago by Elon Musk as chief executive officer of X, is stepping down less than three months after the social-media platform was absorbed by Musk’s artificial intelligence startup, xAI.
“After two incredible years, I’ve decided to step down as CEO of X,” Yaccarino said in a post on X Wednesday. “I’ll be cheering you all on as you continue to change the world.” The former NBCUniversal executive was hired by Musk in May 2023 after he’d already fired or lost about 75% of employees at the company previously called Twitter. Over the course of her two-year tenure, Yaccarino was charged with reversing an advertiser exodus from the platform, triggered in part by Musk’s own erratic content moderation decisions and posts. Advertisers were concerned that their products would be listed next to hate speech or violent content.
It was a difficult task. X revenue fell by close to 50% and missed internal targets in 2023, and several major advertisers departed the platform or paused spending after Musk endorsed an antisemitic post in late 2023. He told marketers who were boycotting the platform to “Go f—- yourself” at a conference after the incident. At the time, Yaccarino told staff that the company’s “free speech” mission would continue with or without advertiser support. “Our principles do not have a price tag, nor will they be compromised — ever,” Yaccarino wrote.
Revenue has since improved from those lows, and advertising sales were projected to increase 16.5% this year, according to Emarketer. Yaccarino, who spent more than 11 years as a top advertising executive at NBCUniversal, is known for her strong relationships in the ad world.
Today's show features:
Dan Ives, Global Head of Technology Research at Wedbush Securities top headlines from the tech industry including Nvidia’s market cap and Elon Musk’s social media response to Ives making suggestions for the Tesla board
Wendy Cutler, Vice President at the Asia Society Policy Institute on President Donald Trump’s tariffs impacting Asian trading partners
Bloomberg News US Semiconductor & Networking Reporter Ian King on Nvidia reaching a market cap of $4 trillion
Dr. Steven Skancke, Chief Economic Advisor at Keel Point on FOMC minutes and the White House’s criticism of Federal Reserve Chair Jerome Powell
Bloomberg Businessweek 