Equity Monday: Elon Musk reinvents corporate governance

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2 • 372 Ratings

🗓️ 8 November 2021

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

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Summary

This is Equity Monday, our weekly kickoff that tracks the latest private market news, talks about the coming week, digs into some recent funding rounds and mulls over a larger theme or narrative from the private markets. You can follow the show on Twitter here. I also tweet. The stock market wasn't incredibly dramatic this morning, from an index-viewpoint. Crytpos were slightly more exciting but only moderately. A host of earnings results this week should provide us with fireworks, however. And on the subject of crypto regulation, news from Congress isn't great for fans of coins and chains. And the rising popularity of NFT games could put consumers in bad tax territory. The SoftBank Vision Fund 1 posted poor results, harming SoftBank's earnings, and leading to the company promising a huge share buyback. And Elon Musk made news not only for tweeting some sort of dick joke at an American Senator, but also for polling Twitter regarding whether or not he should sell 10% worth of Tesla shares. That's one way to do corporate governance, I suppose. Matter Labs raised $50 million, while H2O.ai raised $100 million. And weekend chat concerning this piece detailing Google's history with AMP underscores just how much trust is being lost between major American tech companies and their communities. We are back Wednesday! Hugs! 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	Good morning everybody. This is Alex. This is Equity Monday. Your weekly
0:15.6	kickoff that also dives into the numbers and nuance behind the headlines. It's
0:19.3	November 8th and just as a little data point I am slightly under the weather so if I sound a little bit less
0:24.6	stoked than usual well it's not because I'm not a hype about what's coming up it's that I feel a little
0:30.1	bit snively so that's why anyways theways the good news is there is plenty of technology
0:33.8	news to get hype about but first some market updates Asian stocks and European stocks
0:38.5	mixed this morning not quite a lot of news out of there and of course the American exchange as I talk to you is not yet open but things also look pretty tame here
0:46.1	So looking to cryptos then anything fun to see well Bitcoin and ethereal are up other cryptos are down a little bit but just not the volatility we tend to see on a
0:53.7	Monday morning sorry to be so boring the good news is looking forward there is quite a lot
0:58.3	that could spike some numbers up and down we should see this week earnings from
1:02.0	PayPal DoorDash, Unity, Toast, Affirm, Roblox, and others.
1:06.0	If my notes are holding up, of course,
1:08.0	that's a lot of data about tech performance in a host of areas,
1:10.0	including FinTech,
1:12.0	delivery, gaming, Food Tech, B&PL, etc.
1:14.3	Those results will of course drive volatility on their own as we learned how companies
1:17.3	performed in Q3.
1:19.3	And with that, let's talk some big news. All right in big tech news today we're going to kick off with some notes about
1:27.3	crypto.
1:28.3	Now on Friday a bill made its way through the American Congress that included a number of
1:32.3	provisions that are making the domestic
1:33.8	crypto market nervous. And reading coverage this morning, I would say that there's general concern that the
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