Contrarian bets in a downturn

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2 • 372 Ratings

🗓️ 5 July 2022

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

Hello and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. Alex and Grace are back to cover the biggest, boldest and baddest technology news. We are back on Tuesday, as the United States was off yesterday. So a day late, but hopefully not a dollar short, here's what we got into today: Stocks are mixed around the world, and set to fall in the United States at the open. At the same time, the crypto market has been somewhat relaxed in the last day. Sequoia Capital China is raising $9 billion, a huge amount of money at a time in which we have seen venture capital activity in China slow. Speaking of slowing venture capital, Indian activity is falling. That deceleration comes as the country's crypto market is under pressure. At the same time, Twitter is pushing back against the Indian government bullying, which is good. But maybe less good for Elon Musk, who is buying the social network, and wants to sell imported cars in the country. Closing out, we touched on a potential database breach in China, struggles at Vauld, a new climatetech fund, and news from the quantum front. All that and we had a good time! We are back tomorrow morning, and Friday morning! Credits: Equity is produced by Theresa Loconsolo with editing by Kell. Bryce Durbin is our Illustrator. We'd also like to thank the audience development team and Henry Pickavet, who manages TechCrunch audio products. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hello and welcome back to Equity, the Tech Runge Podcast,
0:03.0	where we unpack the numbers and the nuance. Hello and welcome back to Equity, the Tech Runge Podcast,
0:13.2	where we unpack the numbers and the nuance behind the headlines.
0:16.2	This is Alex and this is not our Monday show.
0:18.2	This is our Tuesday show due to a holiday in the US,
0:21.0	but it is July 5th, 2022, and we have quite a lot to do so let's get into it.
0:25.0	Let's start with markets this morning taking a look at stocks.
0:30.0	They are mostly up in Asia, they are mostly lower in Europe, and they are set to fall at the
0:35.2	the open of regular trading here in the US. Now each week we talk about movement and I'm sure it sounds a little
0:40.5	bit abstract. So what's the real result of all the market changes that
0:43.8	we've seen well today the NASDAQ 100 is at 11,523 points as of pre-market
0:49.5	trading how high has it been the last year, it peaked at 16,764.
0:54.6	That's about a 31% drawdown, so we are deep into bare market territory.
0:59.6	What this means is that if you see the Nasdike drop another half point or a point, sure that's
1:04.0	annoying, but it's also adding to a very, very long-term slide.
1:08.8	That's not good.
1:10.0	From stocks to the blockchain, what is going on in the world of crypto
1:14.0	well the massive sell-off that we have seen in recent weeks appears to have paused or
1:17.8	at least leveled out for the moment in the last 24 hours east did recover a little bit
1:22.0	more than Bitcoin but they're both
1:23.4	still pretty low compared to recent market highs. Anyways now that the
1:27.1	NFT market has cool to the point of being boring to watch well what else do we
	...

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