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☆ Why Musk supports Trump getting rid of EV tax credits
▼ + stars: | 2024-11-14 | by ( Graham Rapier | ) www.businessinsider.com time to read: +6 min

Tesla stands to benefit from any removal of consumer tax credits on electric vehicle purchases. AdvertisementElon Musk supports a Trump plan to end tax credits of up to $7,500 for electric vehicle purchases. On Thursday, Reuters reported that Trump plans to end the EV tax credit, with support from Tesla representatives. In October, the Alliance for Automotive Innovation, an industry group representing Ford, GM, Honda, Toyota, and others, urged Congress to keep the tax credits. While Musk supports cutting the EV tax credit, reports of its potential demise appear to have spooked investors.

Persons: Tesla, Elon Musk, EVs, —, Elon, Musk, Trump, Kelley, Dan Ives, Joe Biden's, It's, Vaibhav Taneja, Benjamin Zhang Organizations: Service, US, Reuters, Ford, Tesla, Republican, BMW, Honda, Hyundai, Alliance for Automotive Innovation, GM, Toyota, Politico Locations: Detroit, Mexico

☆ Tesla shares jump on profit beat, Elon Musk's prediction of at least 20% 'vehicle growth' next year
▼ + stars: | 2024-10-24 | by ( Lora Kolodny | ) www.nbcnews.com time to read: +6 min

Automotive revenue increased 2% to $20 billion from $19.63 billion in the same period a year earlier and is about flat since late 2022. Energy generation and storage revenue soared 52% to $2.38 billion, while services and other revenue, which includes revenue from non-warranty repairs of Tesla vehicles, jumped 29% to $2.79 billion. Earlier this month, Tesla reported third-quarter vehicle deliveries of 462,890. While deliveries increased 6% from a year earlier, they fell shy of analysts’ expectations and followed two straight quarters of year-over-year declines. “Despite ongoing macroeconomic conditions, we expect to achieve slight growth in vehicle deliveries in 2024,” the company said in its earnings deck Wednesday.

Persons: Tesla, Elon Musk, FactSet, Musk, ” Tesla, “, Kelley, Vaibhav Taneja, Li Auto, Donald Trump, Trump, doesn’t Organizations: Revenue, Energy, that’s, California Public Utilities, Li, Ford, General Motors, Trump, Nasdaq Locations: Texas, California, Bay, U.S, China, Harrisburg , Pennsylvania

☆ General Catalyst CiEO Hemant Taneja on the investing landscape, impact of AI technology
▼ + stars: | 2024-10-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGeneral Catalyst CiEO Hemant Taneja on the investing landscape, impact of AI technologyHemant Taneja, General Catalyst CEO and managing partner, joins 'Squawk Box' to discuss news of the company raising $8 billion in new capital, state of the investing landscape, impact of AI, and more.

Persons: CiEO Hemant Taneja, Hemant Taneja Organizations: Catalyst

☆ Tesla shares jump on profit beat, Musk's prediction of at least 20% 'vehicle growth' next year
▼ + stars: | 2024-10-23 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +6 min

Net income rose to about $2.17 billion, or 62 cents a share, from $1.85 billion, or 53 cents a share, a year ago. Profit margins were bolstered by $739 million in automotive regulatory credit revenue during the quarter. Automotive revenue increased 2% to $20 billion from $19.63 billion in the same period a year earlier and is about flat since late 2022. Energy generation and storage revenue soared 52% to $2.38 billion, while services and other revenue, which includes revenue from non-warranty repairs of Tesla vehicles, jumped 29% to $2.79 billion. "Despite ongoing macroeconomic conditions, we expect to achieve slight growth in vehicle deliveries in 2024," the company said in its earnings deck Wednesday.

Persons: Elon Musk, Tesla, FactSet, Musk, Kelley, Vaibhav Taneja, Li Auto, Donald Trump, Trump, doesn't Organizations: LSEG, Energy, that's, California Public Utilities, Li, Ford, General Motors, Trump, Nasdaq Locations: Los Angeles , California, U.S, Texas, California, Bay, China, Harrisburg , Pennsylvania

☆ Lightspeed India: Singapore is the 'most under-talked about' market in the region
▼ + stars: | 2024-09-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightspeed India: Singapore is the 'most under-talked about' market in the regionRahul Taneja, partner at Lightspeed India, discusses the outlook for venture capital in the Asia-Pacific.

Persons: Rahul Taneja Organizations: Lightspeed India Locations: Singapore, Asia, Pacific

☆ A General Catalyst-backed startup is mass-buying virtual care tech from big players like Walmart. Here's why Fabric is still betting on telehealth.
▼ + stars: | 2024-09-17 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +6 min

Read previewHealthtech startup Fabric launched out of stealth in March 2023 to help patients get care faster and automate administrative work for providers. In June, Fabric bought Walmart's virtual care business, MeMD, after the retailer announced it would shutter its 51 health clinics. MeMD was Fabric's third acquisition — the startup previously bought asynchronous virtual care platform Zipnosis from Bright Health, as well as generative AI startup Gyant. The startup has acquired TeamHealth VirtualCare, the virtual care business inside giant physician practice group TeamHealth, Business Insider has learned exclusively. While virtual care saw a tsunami of VC interest during the pandemic, investors and healthcare companies alike are now pulling back.

Persons: —, it's, MeMD, TeamHealth VirtualCare, UnitedHealth Group's Optum, Aniq Rahman, Rahman, we've, Hemant Taneja, Commure, We've, Moat Organizations: Service, Fabric, Bright Health, Business, Google Ventures, Salesforce Ventures, General Catalyst, Bright, Walmart, Vast Ventures, Oracle Locations: Florence

☆ Insider Today: Undercover millionaires
▼ + stars: | 2024-09-08 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

This story is available exclusively to Business Insider subscribers. AdvertisementIn fact, Business Insider spoke with several millionaires who achieved their riches without using get-rich-quick tricks. Matt Harrison Clough for BITo banner, or not to bannerThe LinkedIn Open to Work banner makes some job seekers feel embarrassed. Amazon, Tyler Le/BIAmazon's AI conundrumAmazon's big new AI product is off to a rocky start. AdvertisementMessages and an internal memo seen by Business Insider show AWS employees raising concerns about the AI chatbot's performance.

Persons: —, Kevin O'Leary, Jim Harbaugh, Will Aaron Rodgers, that's, it's, Natalie Ammari, aren't, Matt Harrison Clough, Tyler Le, Jenny Chang, Rodriguez, Hemant Taneja, Commure, Steve Eisman Organizations: Service, Business, NFL, Kansas City Chiefs, Los Angeles Chargers, University of Michigan, New York Jets, Netflix, ESPN Bet, BI, Fidelity Locations: New York

☆ The weirdest startup in healthcare has a blank check from General Catalyst
▼ + stars: | 2024-09-05 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +17 min

Hemant Taneja, the CEO of top venture firm General Catalyst, cofounded the healthcare startup Commure in 2017, and launched it in 2020. AdvertisementIt's made six acquisitions in four years — a remarkable number for a healthcare startup. He hatched Commure inside General Catalyst in 2017 alongside former leaders from Google, Salesforce, and healthcare data analytics firm Health Catalyst. The Philadelphia-based health system co-created a startup with General Catalyst, patient engagement platform Tendo, in 2020. General Catalyst said HATCo will work closely with its more than 20 health system partners, including HCA Healthcare.

Persons: Hemant Taneja, Catalyst, PitchBook, Commure, It's, Augmedix, He's, Tyler Le, Taneja, Livongo, Teladoc, Glen Tullman, Ashwini Zenooz, CommureOS, Tanay Tandon, Rusty Russell, Strongline, Tandon, didn't, General Catalyst, it's, Axios, he's, HATCo, GABRIELLA AUDI, wasn't, Hemant Organizations: Catalyst, Business, Catalyst's, Google, NASDAQ, Jefferson Health, Healthcare, HCA Healthcare, Athelas, SMP Labs, SMP, Commure, BI, FCC, Labs, Strongline Pro, Strongline, Northern District of, Canopy, General, Health, Healthcare Assurance Transformation Corporation, Summa Health, Olive AI, Augmedix, HCA, Getty, Big Tech, Commure's Locations: Livongo, Philadelphia, Commure, PatientKeeper, Athelas, Strongline, Northern District, Northern District of California, Ohio, Augmedix

☆ Why Elon Musk Is Supporting Donald Trump: to Save Tesla From Disaster
▼ + stars: | 2024-07-28 | by ( Linette Lopez | ) www.businessinsider.com time to read: +11 min

As market competition heated up, Tesla started cutting prices, which turned into an industrywide price war that Tesla isn't winning. It's a steep fall, considering Tesla's share of the EV market used to be as high as 80%. Critics balked, but Musk assured the Tesla community that this was the only strategy to save the company. Musk is looking for ways to buy time for Tesla — and one of those ways is to get Trump elected. Preserving Tesla's market position is imperative until he can conjure another product that people are excited to buy.

Persons: Elon Musk, Donald Trump —, Tesla, Trump, Joe Biden's, Kelley Blue, Musk, Ford, —, Critics, shouldn't, ZEV, Steve Granitz, Vaibhav Taneja, China's, Elon — Organizations: Elon, Trump, Tesla, White, EV, GM, Getty Images Trump, PAC Locations: China, USA, Shanghai

As Tesla CEO Elon Musk continues to make lofty promises about his company's future in autonomous driving and robotics, investors keep watching profit margins deteriorate. It's the fourth straight quarter of shrinkage. The company reported just $1.48 billion in net income on revenue of $25.5 billion, which included $890 million in regulatory credits. "Affordability remains top of mind for customers," said Vaibhav Taneja, Tesla's chief accounting officer, on the company's earnings call. Tesla began offering a five-year, zero interest loan offer to spur sales of its EVs in China in April.

Persons: Elon Musk, Tesla, Vaibhav Taneja Organizations: SpaceX, X Holdings Corp, Milken Institute's Global, Beverly Hilton Hotel, Nasdaq Locations: Beverly Hills , California, China, CnEVPost, Shanghai, Germany

☆ More Americans are feeling a six-figure salary can't afford them a middle-class lifestyle
▼ + stars: | 2024-05-06 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at people who feel like a middle-class salary doesn't equal a middle-class lifestyle . The big storyMiddle-class meltdownMichael Raines"Lately, I'm getting the feeling that I came in at the end. AdvertisementBusiness Insider's Jennifer Sor has a report on the people making over six figures who think the middle-class lifestyle they dreamed of isn't realistic for their salary . AdvertisementMarco Bottigelli/Getty, Yevgen Romanenko/Getty, Maskot/Getty, Tyler Le/BILet's address the elephant in the room: A six-figure salary is still a lot of money. Words like "AI Infrastructure" and "generative AI" point to more money heading to Nvidia for its popular H100 GPU chip.

Persons: —, Michael Raines, I'm, It's, Tony Soprano bemoaned, Jennifer Sor, Vincent, it's, Marco Bottigelli, Yevgen Romanenko, Tyler Le, Jenny Chang, Rodriguez, Warren Buffett, Buffett, Shruti Gandhi, Dalton Caldwell, James Cham, Hemant Taneja, Jenny Lefcourt, Nick Little, Sam Altman, Alice Zhang, Serena Williams, Jack Dorsey, Dorsey, — Dorsey, Bluesky, Alyssa Powell, Katie Notopoulos, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Service, Business, Pew Research Center, nab, Adobe, Wall, Hamptons, Nvidia, Genomics, Serena Ventures, Fortune, Starbucks Locations: New York, Zillow, Santa Barbara , California, Berkshire, Bluesky, London, Chicago

☆ A top investor in global brands from Airbnb to Snap says we need swift 'guardrails' to get countries on the same page about AI
▼ + stars: | 2024-02-20 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +4 min

The CEO of the VC firm General Catalyst told WSJ that international collaboration will be crucial. World leaders should "align on some core protocols" for AI development, he said. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Advertisement"Now there's this tension where no country wants to be left behind. So far, Russia has lagged behind China and the US in AI development.

Persons: Catalyst, —, Hemant Taneja, Taneja —, Taneja, Joe Biden, it's, Vladimir Putin Organizations: Service, Wall, publication's, US Commerce Department, European Locations: France, India, China, Russia

☆ Wealth inequality and 'billionaire supremacy' have gotten so bad that at this rate, it will take 230 years to end poverty
▼ + stars: | 2024-01-20 | by ( Katie Balevic | ) www.businessinsider.com time to read: +3 min

Oxfam International published its inequality report, finding it could take 230 years to end poverty. AdvertisementIt will take multiple centuries to end poverty at the rate we're going, according to a recently published report. Oxfam International published its inequality report this month, detailing a slew of grim predictions about the ever-widening wealth gap. Advertisement"To end extreme inequality, governments must radically redistribute the power of billionaires and corporations back to ordinary people," the report's authors concluded. AdvertisementThe participation of global governments in the initiative to decrease wealth inequality will determine whether the world lapses into a future of "billionaire supremacy" or public power, the Oxfam report concluded.

Persons: —, Rebecca Riddell, Nabil Ahmed, Alex Maitland, Max Lawson, Anjela, Oded Galor, Galor Organizations: Oxfam International, Service, Oxfam

☆ Open source needs to be a key pillar of how AI gets developed, says General Catalyst CEO
▼ + stars: | 2023-11-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOpen source needs to be a key pillar of how AI gets developed, says General Catalyst CEOHemant Taneja, General Catalyst CEO, joins 'Squawk on the Street' to discuss the caution vs. commercialization debate taking place with AI, how pivotal this moment is for artificial intelligence, and whether the weekend's events have helped the industry.

Persons: Hemant Taneja Organizations: Catalyst

☆ Tesla discloses DOJ probes over vehicle range, personal benefits and more
▼ + stars: | 2023-10-23 | by ( Lora Kolodny | ) www.cnbc.com time to read: +3 min

A Tesla Model Y is seen on a Tesla car lot in Austin, Texas, on May 31, 2023. The Wall Street Journal reported in August that federal prosecutors were investigating whether Tesla used company funds to design and build a "glass house project" for Musk. Last year, Reuters reported that a federal criminal investigation was underway concerning Tesla's claims that its cars were self-driving. Reuters has reported, and research by Recurrent and others have revealed, that Tesla's cars frequently fail to achieve the mileage stated in range estimates and shown on the in-vehicle displays. Shares in Tesla were ticking higher Monday midday, starting to recover from a 15% decline last week following the company's pessimistic third-quarter earnings call.

Persons: Tesla, Elon, Musk, Vaibhav Taneja, Zachary Kirkhorn Organizations: Tesla, U.S . Department of Justice, Elon Musk's, Street, Reuters, SpaceX, X Corp, Tesla's, CNBC Locations: Austin , Texas

☆ Tesla stock ends the week down 15%, the worst performance of the year
▼ + stars: | 2023-10-20 | by ( Lora Kolodny | ) www.cnbc.com time to read: +5 min

Elon Musk, chief executive officer of SpaceX and Tesla, and owner of X. formerly known as Twitter. Tesla shares dropped more than 15% over the last few days to close the week at $211.99 after CEO Elon Musk waxed pessimistic about macroeconomic issues on a third-quarter earnings call Wednesday. It marks the worst week for Tesla stock of the year, although shares of the electric automaker are still up 96% year-to-date. For the period ending Sept. 30, 2023, Tesla reported $23.35 billion in revenue and $1.85 billion in profits, a decline versus the prior quarter. His forecast still implies more than a 56% upside in a note out after the Q3 Tesla call.

Persons: Elon Musk, Tesla, Musk, Didi, it's, Vaibhav Taneja, We've, Wells, Colin Langan, Morgan Stanley's Adam Jonas, Jonas, Toni Sacconaghi, Bernstein Organizations: SpaceX, Tesla, CNBC Pro Locations: U.S, China

☆ Tesla earnings call was a 'mini disaster,' Wall Street analyst says
▼ + stars: | 2023-10-19 | by ( Alexa St. John | ) www.businessinsider.com time to read: +3 min

One Wall Street analyst referred to the accompanying earnings call as a "mini disaster." AdvertisementAdvertisementTesla's third-quarter earnings call was a "mini disaster," as one Wall Street analyst put it. "We dug our own grave with Cybertruck," Musk said. AdvertisementAdvertisementGiven all of that uncertainty, some analysts anticipated Musk also would end the frequent and substantial vehicle price cuts Tesla's had throughout this year. The ambiguity about pricing concerned Wall Street analysts like Ives.

Persons: Tesla, —, Elon Musk, Dan Ives, Musk, Vaibhav Taneja, Tesla's, Ives Organizations: Service, EV, Wedbush Securities

☆ Tesla set to report third quarter earnings after the bell
▼ + stars: | 2023-10-18 | by ( Lora Kolodny | ) www.cnbc.com time to read: +3 min

Tesla is set to report third-quarter results after the bell on Wednesday. The Q3 2023 earnings call will be Tesla's first since its previous CFO, Zachary Kirkhorn, announced he was stepping aside. Earlier this month, Tesla reported a 7% decline in vehicle deliveries for the third quarter compared to the previous three-month period. Tesla reiterated at the time that it was still aiming for 1.8 million vehicle deliveries for the full year in 2023. Tesla uses an online platform called Say Technologies to pick out questions from shareholders to answer in advance of earnings calls.

Persons: Tesla, Zachary Kirkhorn, Vaibhav Taneja, Elon Musk Organizations: LSEG, Elon, Technologies, Highland, Tesla, Twitter, Say Technologies Locations: U.S, China, EU, Austin

☆ 2 General Catalyst health-data startups are joining forces to create a $6 billion AI colossus and lay the groundwork for an IPO
▼ + stars: | 2023-10-09 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +4 min

The General Catalyst-backed startups Commure and Athelas are merging in a deal to bring more artificial-intelligence tech to hospitals and health systems. The new company, which is keeping the name Commure, plans to stack Athelas' software on top of Commure's data platform for health systems. General Catalyst is investing $70 million in the new firm at a $6 billion valuation, and Tanay Tandon, the founder and CEO of Athelas, will lead the combined company. Commure will consider companies making those tools in a range of categories, including credentialing, contracting, and patient engagement, he said. The company has about 100 open positions, Tandon said, and expects to hire hundreds more people in 2024.

Persons: Tanay Tandon, Hemant Taneja, Tandon, Commure, Catalyst, Athelas Organizations: Catalyst, General

☆ Tesla reported 435,059 deliveries for the third quarter, and production of 430,488 vehicles
▼ + stars: | 2023-10-02 | by ( Lora Kolodny | ) www.cnbc.com time to read: +3 min

Tesla vehicles waiting to be loaded on board a cargo vessel at Nangang port, in Shanghai, China, on Sept. 6, 2023. Here are the key numbers from the electric vehicle maker:Total deliveries Q3 2023: 435,059Total production Q3 2023: 430,488During the previous quarter, Tesla reported total deliveries of 466,140 and total vehicle production of 479,700. During the same period in 2022 Tesla reported total vehicle production of 365,923 and deliveries of 343,830. Wall Street was expecting Tesla deliveries to reach 461,640 for the period ending Sept. 30, according to a consensus of analysts polled by StreetAccount. That number showed Wall Street was expecting around 455,000 total deliveries, with a median estimate of 453,128 deliveries for the quarter, based on 25 analysts' estimates.

Persons: Tesla, Elon Musk, Troy Teslike, Martin Viecha, Zachary Kirkhorn, Vaibhav Taneja, Tesla's Organizations: Tesla, PepsiCo, StreetAccount, U.S, Taneja Locations: Shanghai, China

☆ From rolling out OpenAI's GPT-4 to employees to preventing $27 billion in fraud, Visa exec Rajat Taneja opens up about the payments giant's AI playbook
▼ + stars: | 2023-09-14 | by ( Bianca Chan | ) www.businessinsider.com time to read: +4 min

Visa relies on AI for mission-critical tasks like processing payments, detecting fraud, and securing its massive network infrastructure. It has more than 300 AI models that are live and operating. "AI is going to be a huge part of how we grow, but it'll also be part and parcel of everybody's work," Taneja said. Visa continues to experiment with similar AI models, like Meta's AI model Llama 2 and those from French-American company Hugging Face, Taneja said. Visa introduced AI models that ingest billions of data points every day to train on, learn patterns, and identify any cybersecurity or payment-security threats.

Persons: It's, Rajat Taneja, it'll, Taneja, it's, coder, counterfeits Organizations: Visa, Microsoft Locations: American

☆ Tesla engineering executive Colin Campbell joins Redwood Materials as technology chief
▼ + stars: | 2023-08-22 | by ( Lora Kolodny | ) www.cnbc.com time to read: +2 min

Redwood Materials, the battery-recycling startup founded by Tesla board member JB Straubel, recently nabbed Tesla's vice president of powertrain engineering, Colin Campbell, to serve as chief technology officer. Based in Carson City, Nevada, Redwood was founded by Straubel in 2017 while he was still serving as Tesla's CTO. Straubel resigned from Tesla in 2019 to focus on Redwood. Another executive at Redwood, operating chief Kevin Kassekert, previously served as vice president of people and places at Tesla. More than 120 people currently work at Straubel's company after previously working for Tesla, according to LinkedIn data.

Persons: JB Straubel, Colin Campbell, Straubel, Campbell, Tesla, Zach Kirkhorn, Vaibhav Taneja, Redwood, Kevin Kassekert Organizations: Materials, Tesla, LinkedIn, Elon, CNBC, Redwood Locations: Carson City , Nevada, Redwood

☆ CFOs are stepping into a rapidly revolving door
▼ + stars: | 2023-08-14 | by ( Jennifer Saba | ) www.reuters.com time to read: +3 min

NEW YORK, Aug 14 (Reuters Breakingviews) - Chief financial officers are stepping into an increasingly rapidly revolving door. loadingIn the first half of this year, 103 of the top 1,000 companies ranked by Fortune lost their CFO, according to executive search firm Heidrick & Struggles. CFOs are grappling with rising inflation and interest rates – in some cases, for the first time in their careers. High CFO turnover looks far from transitory. Follow @jennifersaba on TwitterCONTEXT NEWSTesla said on Aug. 7 that its Chief Financial Officer Zachary Kirkhorn was stepping down.

Persons: Elon Musk, Zachary Kirkhorn, Francois, Xavier Roger, Anna Manz, Fortune, Refinitiv, Ruth Porat, Morgan Stanley, Mike Cavanagh, NBCUniversal, Mike Lenz, Unilever’s, Graeme Pitkethly, Walt Disney’s, Christine McCarthy, James Kehoe, Crist Kolder, Tesla, Vaibhav Taneja, Kirkhorn, Peter Thal Larsen, Sharon Lam, Aditya Sriwatsav Organizations: Reuters, Finance, Walgreens Boots Alliance, London Stock Exchange, Reuters Graphics Reuters, Comcast, Walgreens, CFOs, Thomson Locations: Swiss

☆ Tesla's 'Master of Coin' bids the EV-maker farewell after racking up a $590 million fortune
▼ + stars: | 2023-08-09 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

A Tesla exec's departure will see him leave with a $590 million fortune, according to Bloomberg. Despite owning less than 1% of Tesla's common stock, Kirkhorn has still gone home with deep pockets, according to the company's latest proxy filing. In 2022 alone, Kirkhorn earned about $16.3 million in stock awards, while being awarded almost $1.3 million in options. The company's stock has surged more than 100% year-to-date, boosting its market cap to roughly $800 billion, per Markets Insider data. Vaibhav Taneja, Tesla's chief accounting officer will step in Kirkhorn's role following his exit.

Persons: Zachary Kirkhorn, Elon Musk's carmaker, Kirkhorn, Tesla, Musk, Kirkhorn's, Vaibhav Organizations: Bloomberg, Tesla, Service, Elon Musk's, GM, Ford Locations: Wall, Silicon, Elon

☆ Here's what CEOs are saying about consumers this earnings season
▼ + stars: | 2023-08-08 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

Consumers have more cash on hand now than before the pandemic, according to a July analysis from the JPMorgan Chase Institute. So, what do corporate earnings reveal about the health of the consumer? “The consumer is in good financial shape, particularly the premium consumer base that we target,” Ed Bastian, chief executive of Delta Air Lines (DAL), said last month. “Both the lower-income consumer and our higher-income consumers are showing really good strength,” said Brian Niccol, chief executive of Chipotle, during the company’s post-earnings call. “The macro effects of higher inflation and a slowing US economy have put increased pressure on the price-sensitive consumer,” said Chip Bergh, chief executive of Levi Strauss.

Persons: Taylor Swift’s, ” Ed Bastian, ”, Robert Jordan, “ We’re, Laxman Narasimhan, Chipotle, Brian Niccol, Levi Strauss, LEVI, Chip Bergh, “, Tarang Amin, Zachary Kirkhorn, Peter Valdes, Kirkhorn, Tesla, Elon Musk’s, Vaibhav, Read, Jennifer Korn, it’s, Google Organizations: CNN, JPMorgan Chase Institute, Airlines, Consumers, Delta Air Lines, DAL, Southwest Airlines, Papa Johns, Apparel, Tesla, Google Locations: United States, Pacific, Papa Johns ’ North, bitcoin

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