For Tech, Glitzy Announcements Are Not Game-Changers

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Apple CEO Tim Cook announces the iPhone 6 and iPhone 6 Plus at the Flint Center in Cupertino, Calif., Tuesday.

If you didn’t hear (and it was pretty hard to miss), Apple made a big announcement this week, unveiling new phones, a digital watch and even a new mobile payments system. Next week, Chinese e-commerce company Alibaba is expected to start trading shares publicly in what some are predicting will be the biggest IPO ever. Despite all the excitement and often lavish praise showered on tech companies, not all is well for the tech industry. Google is under attack in Europe, companies like Uber and Airbnb continue to face push back and Amazon’s recently cut the price of its new phone to 99 cents because, apparently, consumers aren’t interested. This week on Money Talking, are things getting a bit gloomy in Silicon Valley? Plus Peter Thiel. He made millions as a co-founder of PayPal. Now he’s the Valley’s leading intellectual. His new book about innovation and the future, Zero to One, comes out next week.