Equity Monday: Generative AI's Magic Leap

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2 • 372 Ratings

🗓️ 9 January 2023

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

Here's what we got into for this week's Monday episode: Big Tech: Vista Equity Partners scooped up Duck Creek for $2.6 billion, and that's not the only billion-dollar figure we've seen from them over the past twelve months. Enterprise deals to start off the year? Take notes, startups. Big Idea: I'm thinking all about generative AI, especially thanks to Rebecca Szkutak's latest piece: "Whoops! Is generative AI already becoming a bubble?" I talk through the thesis of the piece, why venture always needs a buzzword, and why that's not necessarily a bad thing. And Big Innovation: We end with our roots in the world of startups. I'm talking Magic Leap's comeback story and a can't miss Dominic-Madori Davis piece tracking Black founder funding trends. And with that, goodbye until Wednesday! You can follow me on Twitter @nmasc_ or on Instagram @natashathereporter. And, as always, follow Equity on Twitter @equitypod. Equity drops at 10:00 a.m. PT every Monday and at 7:00 a.m. PT on Wednesdays and Fridays, so subscribe to us on Apple Podcasts, Overcast, Spotifyand all the casts. TechCrunch also has a great show on crypto, a show that interviews founders, one that details how our stories come together, 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 Crunch Podcast, where we unpack the numbers and
0:14.8	nuance behind the headlines.
0:16.2	I'm Natasha Masquerainis and it is Monday, January 9, 2023.
0:20.8	I hope you all had an amazing weekend and are ready for the week ahead. My goal for this
0:25.4	week is probably to collaborate more because last week was always that weird back to school
0:29.8	back to work week where we all are kind of remembering how to talk out loud.
0:33.8	So that's my energy.
0:34.8	I'm gonna ask for help raise my hand, do all the things.
0:37.4	But until then, let's jump into what happened since we last chatted.
0:41.0	Let's start off with the big tech section, which is a little small this week.
0:47.3	We're hearing that Private Equity Giant Vista Equity Partners has acquired Duck Creek Technologies,
0:52.4	a SAS-based software provider, in a $2.6 billion deal.
0:57.2	It's a big deal because Duck Creek's fortunes have somewhat fallen recently.
1:01.5	Its valuation was around $ 2 billion over that past year
1:04.1	after it peaked at 7 billion in early 2021. So we're seeing it kind of have this big
1:08.8	billion dollar landing and it's kind of nice energy to start the year off with.
1:12.8	Vista Equity Partners has been on my radar even as someone who's not a daily reporter
1:17.0	to say the least in the private equity space and it's because Vista's been on its own
1:20.8	acquisition spree over the past year.
1:23.0	It acquired Citrix for $16.5 billion.
1:25.6	It also acquired an automated tax compliance company,
1:28.5	Avalon, Ava for $8.4 billion,
	...

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