Equity Monday: Bitcoin is on the move as Spotify cuts staff, and more money floods AI

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2 • 372 Ratings

🗓️ 4 December 2023

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Our Monday show covers the latest in tech news from the weekend and what’s making headlines early in the week. And we had a lot to cover this morning! Crypto prices are rising, which is good news for the decentralized economy, as increasing prices track with heightened trading activity and consumer interest. We have another busy week of SaaS companies reporting quarterly results, which will hopefully provide a useful temperature check for tech valuations. CoreWeave's new $7 billion valuation had our tongues wagging, as did delays at Google's AI project. And then there was Spotify cutting staff in light of economic conditions. The company can't outgrow its core market forever, and with largely static gross margins, the only lever it can really pull is its cost base. That's it for today! More on Wednesday and Friday! For episode transcripts and more, head to Equity’s Simplecast website. Equity drops at 7 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 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, the Tech Runch Podcast, where we unpack the numbers and the
0:16.0	nuance behind the headlines.
0:17.8	This is Alex, good morning and welcome back to our Monday show, where we take a look back at
0:22.3	the weekend and then a look at the week that is to come.
0:25.3	Today is December 4th, 2023 the year is winding down and I am not emotionally ready for winter.
0:33.8	Not even a little bit.
0:35.4	But while the outside is cold, the tech news is still actually pretty hot.
0:39.0	So today on the show we have SAS Data, major changes in cryptoland big AI rounds and
0:45.7	product lays and finally layoffs at Spotify let's go
0:50.8	starting off with my favorite thing in the world, the stock market, shares are mixed in Asia today with the Chinese CSI 300 index hitting its lowest levels since early 2019.
1:03.4	Over in Europe shares are mostly lower today.
1:06.5	The background there is that gold hit a record high in the last 24 hours,
1:10.2	in case you track that sort of thing,
1:11.9	and stocks are set to rip higher here in the US at the open
1:15.8	now on the earnings front no we're not out of the woods yet but the good news is we do have a lot of very
1:21.5	interesting names in the SAS space.
1:24.0	So on Monday we will hear from GitLab and Maria DB.
1:28.6	Tuesday brings Mongo DB, Neo, Sentinel 1, Asana, Box, Yext, Stitch Fix, Arrival, and Junji.
1:37.0	Wednesday is Viva, Chooey, Brays, Sprinkler, C3. AI, Couch Base and Charge Point.
1:44.4	And then finally, Thursday, we're not out of the woods then either,
1:47.2	DocuSign, Smart Sheet, Hashi Corp, and Secure Works.
1:50.9	So it's another big week of S with some AI and electric charging thrown in.
	...

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