Cost cutting, layoffs remain leading startup themes

Equity

TechCrunch

News, Business, Entrepreneurship, Business News, Technology

4.2 • 372 Ratings

🗓️ 11 July 2022

⏱️ 7 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. After some holiday weeks, we are back on an actual Monday! What a treat. Here's what we got into: Stocks are off around the world, partially due to government action, partially due to the complex web of negative factors that we've discussed for months now. Cryptos are more staid; if you like bitcoin at $20,000 this is your moment. Tiger's slowdown is no mere blip, TechCrunch reports. The investing powerhouse is going to slow its roll for the rest of 2022, and is looking to raise a new fund. Unacademy is looking to cut costs, go public in two years per TechCrunch. And Kadamos raised more capital, marking a pretty quick reload after raising a few months ago. Quick Hits: The Uber Files are a mess, layoffs aren't solving a talent crunch in Southeast Asia, and fintech staffing cuts are starting to pile up. Equity drops every Monday at 7 a.m. PDT and Wednesday and Friday at 6 a.m. PDT, so subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. 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 Ranch Podcast,
0:13.4	where we unpack the numbers and the nuance behind the headlines.
0:16.4	This is Alex, it is July 11, 2000 and 22
0:20.2	and there is quite a lot to talk about,
0:21.6	so let's just dive in.
0:23.0	Let's kick off with a look at the world of money and we start as we always do with stocks.
0:30.0	Shares are mostly down in Asia and down sharply in Hong Kong after Alibaba and Tencent, two Chinese technology
0:36.2	giants, fell after being hit with fines yesterday for running afoul of anti-monopoly rules
0:41.6	regarding disclosures of certain purchases. That's according to Reuters. of but less in Europe though of course there is a war and energy crisis and more over
0:54.1	there not a great time overall for lots of folks and here in the US well the news
0:58.4	is also not good shares are off in pre-market trading and they're off mostly over at Twitter down 5% in pre-market trading and they're off mostly over at Twitter, down 5% in pre-market
1:05.1	trading on news that Elon Musk intends to not buy the company.
1:08.8	By now you've heard of that fact and you've probably also heard that Twitter does intend to
1:12.3	force Musk to buy it.
1:14.0	Now we're not sure how this is all going to shake out in the end, but Musk messed around and
1:17.6	then was informed, to paraphrase the saying.
1:20.4	After being the most busy asset in the world, cryptos are boring this morning.
1:24.0	They're just not doing much.
1:25.0	Bitcoin is around the $20,000 mark, Eath a little over the $1,100 threshold, and
1:31.0	NFT volume also looks pretty slack this month in case you had hoped for a quick rebound after that market slow dramatically in June from prior levels no such luck and because we are now into the first month of Q3,
1:43.0	yes, it is almost time for earnings season.
1:45.6	The new data will of course shake things up
	...

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