Does venture capital need a shot in the arm?

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2 • 372 Ratings

🗓️ 29 August 2022

⏱️ 8 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. This week Alex was back with Grace and our new producer Theresa Loconsolo to kick off the week. This Monday morning we recorded right before Garry Tan announced that he was heading back to Y Combinator as its President. Dang. But we still had a good sheaf of things to talk about! Stocks are not having a good day around the world, after having a pretty tough last Friday. It's hardly bullish for the IPO market. Things weren't much better in crypto-land, where bitcoin and ether are off from their week-ago prices, and NFT volumes remain muted. And speaking of quiet, startup news -- Y Combinator apart! -- was modest over the weekend. It appears that the August slowdown is both real, and here. Frankly startups could use a shot in the arm to get venture back closer to 2021's level of insanity. Can the Instacart IPO that we expect be the needed catalyst? Another potential catalyst of Good Vibes that we are tracking is whether, and when Tether's audit finally does happen. Also in the news: Honda is going to spend big to build batteries in the United States; Indian mobile connectivity is set to improve in the next year; and Meta and Indian conglomerate Reliance are teaming up for ecommerce. Equity is back Wednesday Thursday for a live show! Chat soon! 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 Runch Podcast, where we unpacked in numbers and the
0:15.6	nuance behind the headlines.
0:17.2	This is Alex, it is August 29, 2022 and there is a lot to talk about so I'm going to shut
0:21.9	up and get started.
0:25.6	Let's take a look at markets around the world starting with stocks in Asia where they are mostly down.
0:30.5	In Europe they are sharply down and here in the US they are set to open sharply lower.
0:35.8	Why is everything falling? Well in the US and Europe there are concerns that interest rates could
0:39.5	keep rising for some time and that's bad news for stocks.
0:43.0	Why?
0:44.0	Keep in mind that good economic news right now can push stocks in a contrary direction.
0:48.0	The logic is that the better the near-term economic data is, the higher rates will go in the near term. So it's a little bit damned if you do,
0:54.9	damned if you don't. Lovely. News isn't much better over in crypto land.
0:59.2	Bitcoin and Eath are off a little in the last day and roughly 7 and 8% apiece in the last week.
1:04.8	That means that the aggregate crypto market cap is back under the $1 trillion mark, though, yes,
1:09.7	that number does have a couple of issues that we are aware of.
1:12.4	And finally, NFT volumes remain modest.
1:14.8	Yes, this crypto winter has teeth and they're sharp.
1:17.4	Looking ahead, we're going to hear from Baidu, Crowdstrike and HP on the earnings front
1:21.1	this week.
1:21.7	Of course, we're at the tail in now of earning season,
1:23.7	but there's still a little bit of data
1:25.1	that we can't wait to see.
	...

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