Did we learn anything from the Elon-Twitter brouhaha?

Equity

TechCrunch

Business, News, Technology, Business News, Entrepreneurship

4.2 • 372 Ratings

🗓️ 11 April 2022

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Every Monday, Grace and Alex scour the news and record notes on what’s going on to kick off the week. This week was big-tech heavy, as the startup market had a slow start to the week. Sign of the times or one day fluke? We'll see in time, I suppose. Here's what we got into on the show today: Stocks are down today, and cryptos are doing even worse in recent days. Elon Musk's flirtation with becoming a Twitter board member is over, the company said. Precisely why Musk backed out is not entirely clear, though the social media company's statement might hold some clues. Shopify is splitting its stock, and changing up its corporate governance structure; crypto volumes are tanking in India following a legal change -- and Coinbase is struggling in the country; SailPoint is selling to private equity for $6.9 billion. Turning the clock back, the Ellevest round is very cool. And to close things out, NIO's production is on hold in China due to COVID issues. Such much for supply chain recovery. This week is TechCrunch: Early Stage, which is going to be good fun. See you there! 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, where we unpack the numbers and the nuance behind the headlines.
0:15.7	My name is Alex. It is April 11, 2022, and I am excited because we have a lot of news this morning.
0:21.9	And we also have an event coming up.
0:23.6	Yes! Tech Runge early stages happening later this week which means that I will
0:27.3	spend most of Wednesday on a plane. I'm very very excited I have not seen my
0:31.1	coworkers in so long I could cry and also I haven't seen all of you so I'm really
0:35.2	hoping to just see folks hang out and hopefully not get COVID so that'll be a lot of fun.
0:40.0	Anyways PAC show today let's's start with Marcus. Let's do it
0:53.7	We're gonna start with markets today, which means that everyone gets some bad news. How much bad news will depend on your current asset mix but here's the news. Stocks in Asia are lower today especially in China where inflation data came in hotter than expected. European
0:58.0	stocks are mixed and American stocks are set to fall at the open though of course
1:01.8	we're recording this far in advance of market open timing
1:04.4	here in the States.
1:05.9	So if you own stocks, bad news.
1:07.6	But what about, ah, if you own cryptos?
1:09.8	Bad news there as well.
1:11.0	Cryptos are off single digits today, and Bitcoin and Ethereum are off about 10% in the
1:15.1	last week or so.
1:16.1	So no matter what you own, it's a bad day.
1:18.1	Well, it's a Monday morning in April, which means that we have Twitter news thanks to Elon Musk.
1:25.4	Last Monday we reported that Elon Musk had bought a huge stake in Twitter at the cost of nearly $3 billion.
1:31.6	shares in the company rose.
1:33.7	Then Twitter announced the Elon will get a board seat in return for some conditions, including
	...

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