Daylight's sunset and Meta's year of focus

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2 • 372 Ratings

🗓️ 26 May 2023

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

Mary Ann and Alex were a dynamic duo this week, and here's what they got into: The fascinating backers of Checkmate, and the future of online shopping: Mary Ann covered a very interesting Series A for Checkmate, a startup that not only has shown real legs on the competitive App Store, but also on social media platforms far and wide. Cava's IPO won't save the IPO market, but it could help all the same: Alex is so IPO-deprived that he's drawing connections between anything that files and the startup market. This time it's not even that much of a stretch! Daylight calls it quits: From the 'not a huge surprise' category comes the end of Daylight, a neobank aimed at the LGBTQ+ market that has been struggling for a while yet. This begged the question are themed neobanks going to make it? Layoffs, Layoffs, Layoffs: Soundcloud is cutting staff to get to profitability, which we can understand. Meta is cutting staff because it, well, wants to conserve capital for more share buybacks? Anthropic's massive funding round and who is going to win the AI war? When is $450 million not that much money? When you are building foundational AI models that are taking on OpenAI and others. Also in this section: Cold War metaphors. And with that, we're heading off into a holiday weekend here in the US, so Equity will be back next Tuesday. For episode transcripts and more, head to Equity’s Simplecast website. Equity drops at 7:00 a.m. PT every Monday, Wednesday and Friday, so subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. TechCrunch also has a great show on crypto, a show that interviews founders, one that details how our stories come together and more! 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 a podcast about the business of startups where we unpack the numbers and the nuance behind the headlines.
0:17.5	My name is Alex Wilhelm and it is May 26, 2023 and that means it's time for me to sit down and have a chat with my bestie,
0:24.8	senior tech-winch reporter on FinTech, it's Mary Ann Azoveto.
0:28.1	Hey, how are you?
0:29.1	Hey, Alex, I'm good.
0:30.1	I'm excited for the long weekend.
0:31.5	How about you?
0:32.4	Oh, don't talk about it, yet. You'll scare it away.
0:35.0	If you jinx it, something big is going to happen and we're going to be stuck here all weekend long chasing down.
0:40.0	Why coin-based bought Chime or something?
0:42.8	Oh my God, okay, all right, never mind.
0:45.2	It's going to be a long boring weekend, hopefully, but we do not have a long and boring show.
0:50.1	We have a correctly sized, a lovely show for you, and today we are going to talk about all things checkmate don't worry no chest jokes will happen there the Kava IPO in which we discuss how to take the Chipotle model and add hummus and then we're going to riff on why
1:03.9	daylight has called it quits an update on all things layoffs and then it will
1:08.0	startups even have a shot in the enterprise AI race it's going to be a real treat
1:12.1	but Marianne I think that you
1:14.1	used to start because you're going to say words like Chain Smokers and
1:17.1	Paris Hilton. So take it away. Yeah, so this week I wrote an article about a
1:20.7	company called Check Me, which sort of straddles the e-commerce, FinTech worlds, right?
1:26.8	Kind of more e-commerce even than FinTech.
1:29.2	But basically it caught my attention for a few reasons.
1:31.6	One, I love to shop, so they promised that they'll help you save money when you're shopping.
	...

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