Equity Monday: Fintech consolidation could be picking up

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2 • 372 Ratings

🗓️ 28 February 2022

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

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Summary

Every Monday, Grace and Alex scour the news and record notes on what’s going on to kick off the week. This weekend was yet another that was full of news from Ukraine, which meant that the tech market was slightly quieter than usual. But not so quiet that we didn't have lots to chat about, so here's the latest: The Russian startup market isn't huge -- data here -- but when we consider the number of startups in Ukraine as well, the impact of Russia's war and the world's sanctions will bite. Russia is also tangling with American tech giants, which isn't going well. Over the weekend, the American Republican Party bashed large American tech companies. Gone are the days when the GOP was a reliable simp for corporate power. Today it's more fashionable to pump SPACs like TMTG, or Rumble. Weee! raised a huge sum from the second Vision Fund, we report, and OneCard is set to raise a massive round in short order, despite how recently it announced its preceding round. (Oh, and this looks very neat.) And Zip is buying Sezzle, in more BNPL market consolidation. A sign of the times, we decide. That is our show! Lots more to come this week, so get ready! 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 Crunch, where we unpack the numbers and the new ones behind the headlines.
0:16.0	My name is Alex, it is Monday morning, it is early, and we have had a very busy weekend.
0:21.0	There is a lot to talk about for our kind of kickoff today, but it is February 28th,
0:25.6	2022, the last day of the second month of the first quarter. So let's take a look at the markets and see what the
0:31.7	damage is.
0:32.5	So what is going on in the world of the stock market?
0:38.2	Well, in Russia, the market is closed, so we don't know.
0:40.9	But in Asia, stocks are mixed in Europe stocks are down but nothing too
0:44.6	crazy in the United States stocks are set to open lower but we have seen a lot of
0:48.8	ups and downs in the last couple trading sessions so don't trust the pre-print
0:51.8	keep an eye on American equities
0:53.4	as they trade throughout the day. Turning to crypto, looking at this the majors are
0:58.1	off a little bit in the last 24 hours but nothing really too crazy. We've seen
1:01.6	some gains in crypto in the last seven days so call it kind of an
1:04.8	unch. The first section of news we're going to talk about today of course deals with
1:11.0	Ukraine. It is the leading story around the entire globe
1:14.5	because well we're seeing what happens when a nation tries to take another one in the
1:18.5	modern era. I spent much of the week in watching news in the country as the
1:21.5	Ukraine fought back against Russian
1:23.0	invasion. We are learning the military and non-military cost, which is to say the
1:27.4	economic price essentially of trying to steal another nation, while the rest of the
1:31.1	world says hell no.
	...

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