Bloomberg reporter Ed Ludlow discusses Nvidia's stock plunge and Apple's potential EU fines over App Store rules. The podcast also touches on the impact of the CDK cyberattack on car sellers.
Apple may be fined billions in EU over App Store rules, reflecting regulatory challenges.
Deep dives
Success in Small Business with QuickBooks Money
Small business masterminds succeed by making their money work harder through a business bank account with QuickBooks Money, offering a 5% annual percentage yield. This approach allows businesses to match their effort in making money work efficiently, highlighting the importance of financial services like QuickBooks Money.
Nvidia's Stock Decline and Valuation Concerns
Nvidia experiences a significant decline in stock value, losing over $380 billion in market cap over three days. Concerns arise due to its high price-to-sales ratio exceeding 20 times expected sales in the next 12 months, leading to discussions about the company's valuation and place as a tech industry leader.
Challenges and Realities in the AI Industry
Parmi Olson discusses Nvidia's AI success and the industry's shift towards generative AI tools, highlighting concerns about productivity, practicality, and overhyped marketing claims. The evolving perception of AI's capabilities reveals challenges faced by businesses in AI adoption and productivity enhancement.
Acquisition of BeReal by Voodoo for Social Media Expansion
Voodoo's acquisition of BeReal for €500 million signifies a strategic move towards diversification into consumer apps and social media platforms. This acquisition aims to leverage BeReal's success in genuine content sharing to reach a wider global audience and promote authentic connections in the social media landscape.
Bloomberg's Ed Ludlow breaks down Nvidia sliding for a third consecutive day and wiping out $400 billion off its market cap. Plus, Apple faces billions of euros in fines over its App Store rules under the EU's Digital Markets Act, and car sellers warn of a possible material hit from the CDK cyberattack.