ray wang with us this morning. rau -- ray, you're a tech guy.nflation, surely that is good news for big tech. tell me. >> yeah. we're definitely seeing a move back to big tech the, lot of it because of the double-digit earnings, and people are anticipating the what's going to happen in q1 earnings, but a lot ofst the being powered by a.i. it's the big players in a.i. that are driving those earnings. stuart: who are the big players many a.i. as we speak? >> microsoft, definitely, as we've seen with chatgpt. they actually announced they're hugging gpt, they actually create a personal assistant that's offline. so it's kind of like chatgpt but with images and open data that's put together. amazon, what you saw in the open letter that a actually was put out yesterday, they're spending a lot of time building large language models and using a.i. to create efficiencies inside their organization. and of course, google, they're building chips called tpus that are specialized for a. i.. and then, of course, a bunch of other companies that are in the chip b

earlier i spoke with ray wang, the founder of the tech advisory firm constellation research and he toldeta has managed to keep eyeballs on its platforms and advertisers know that. yeah, they showed the digital ad winter is thawing and that is a really important piece. what you mentioned earlier was important, advertisers are flocking to the big platforms. if you don't have the users and the eyeballs, they are not going to be there and what meta showed was that they were able to keep their monthly active users still at 2.99 billion, almost 3 billion, intact, and were able to drive sales up 3% and give a queue to guidance that was much higher between the 29.5 billion to 32 billion range. and that is coming on the heels of 20,000 job cuts and this year of efficiency that mark zuckerberg has hushered in. so is that what has led to the brighter outlook, has just been about cost—cutting, efficiency and therefore better profits? that's one part of the story. i think the other part of the story is the fact that wheels are starting to take hold. that will require some investment and it is coming

for more on meta's results and what they say about the state of big tech let's bring in ray wang, founderisory firm, constellation research. yeah, they showed that the digital add is fine, yeah, they showed that the digitaladd is fine, and i think that's a really important piece. and what you mentioned earlier is important. advertisers are flocking to the big platforms. if you don't have the users and the eyeballs, they are not going to be there. they were able to keep their monthly active users still at 2.99 billion, almost at 3 billion intact, and they were able to drive sales up 3% and give guidance that was much higher in between the 29.5 billion to 32 billion range. and that is coming on the heels of 20,000 job cuts and this year of efficiency that mark zuckerberg has ushered in. is zuckerberg has ushered in. is that what has led to the brighter outlook? hasn'tjust been about cost cutting, efficiency and therefore better traffic? . �* , efficiency and therefore better traffic? . �*, ., ., traffic? that's one part of the sto . i traffic? that's one part of the story. i think— traffic?

get reaction from constellation research ceo ray wang, ray good to see you. how are are you?ou helped people impacted by silicon valley bank collapse i hear. what are the similarities if any between what first republic is going through now and what svb when through? >> as kelly was saying it is really important, these are the life hines to small businesses and in the region where i live this is talking about biotech, hardware, telecom, any kind of software companies and they all depends on these loans and operational funds that are coming from banks like silicon valley bank in the past and first republic in this case and that flight of cash going out there, means we'll not have the same level of startup innovation, tech innovation we've seen in the past. this could impact levels of tech innovation for next 24, 36 months. what it is doing creating scarcity of capital, especially for companies that require, startups require level of funding, operational level of funding and continual level of investment. that means less innovation in the economy. that is what we're worried abou

liz: ray wang, thank you so much for joining us. good to see you. >> thank you. story for you. it's now backfiring, president biden's attempt to down play the pentagon documents leak. critics say he needs to say now how many defense department workers, how many pentagon personnel workers, how many are in the ukraine? how much money is being blown in ukraine? also, california pushing its utilities to charge for electricity based not on usage but on how much money taxpayers make. this is a clear violation of taxpayers constitutional right to privacy. that's next on the "evening edit." pay for what you need. with the money we saved, we tried electric unicycles. i think i've got it! doggy-paddle! only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. (upbeat music) - "dear michael, i appreciate