Equity Monday: I hear this fintech thing is going to be big

Equity

TechCrunch

News, Business, Entrepreneurship, Business News, Technology

4.2 • 372 Ratings

🗓️ 11 October 2021

⏱️ 9 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. Markets were busy, with Chinese tech stocks rallying and the rest of the world posting a mix of gains and losses. If you are bullish on public markets, excellent. But if you are bearish, don't worry -- there are diverse enough signals out this morning to satisfy any investing thesis. Facebook goes on American political TV: To talk about changes it is going to make to its product. A product that it built. It wants point for fixing the thing it made broken. Sure. And Tesla, after delaying the roll-out of a beta for Full Self Driving, is also being asked by some in India to build cars in that country. CRED is raising even more money, at an even higher valuation. Mono gets the Tiger imprimatur, which matters as the startup could prove that the Plaid model will spawn regional players. French mobile gaming company Homa Games raised $50 million on the back of huge download numbers. And ahead we have the GitLab direct listing, and AvidExchange IPO. Chat you on Wednesday! 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 and welcome back to Equity Monday. This is Alex of course. It is October
0:17.3	11th, bright and early here on the East Coast of the United States and we are here together
0:22.1	to chat all about what happened this weekend, what's going on today, and of course what's ahead this week.
0:27.0	We're talking about technology and startups and money and it's going to be an absolute blast and we really need to get started. All right, let's kick off with a quick markets update.
0:37.8	I know you need to know what's going on, so let's talk about it.
0:40.4	American stocks are set to fall this morning. I will just go ahead and say that it is a partial
0:44.5	holiday here in the United States, so some folks are off and news out of America might be a little
0:48.6	slower than usual. European stocks were mixed Asian stocks were generally higher, especially technology shares from China. Now that is a notable little detail because, as you know, regulatory pressure from the Chinese government has harmed the value of a great many Chinese technology companies that are public so to see a rally caught our eyes.
1:05.3	So what's going on? Well, it turns out that China's state administration for market regulation or
1:10.5	Sammer only find Meituan a Chinese technology behemoth, if you will, $534 million.
1:16.7	Now that fine is not cheap, a half billion dollars is never something to sneeze at,
1:20.9	but if you were expecting a much steeper fine, it can actually appear to be a discount.
1:24.6	So shares of Mehtuan were up 8% in Hong Kong today, and if you don't know Meetuan Jiang Ping, of course is a Chinese food delivery giant.
1:31.3	Of course it does other stuff as well.
1:32.6	Looking around elsewhere, let's see, after recent gains, cryptos are pretty muted this morning.
1:37.2	Bitcoin is at just around $56,000 and Ether is just under 3,600.
1:42.0	All right, now, the weekend.
1:43.4	All right, so over the weekend, of course,
1:48.5	as it is an American holiday-ish weekend,
1:51.1	there was a little bit less happening that we care about
1:53.2	than we otherwise might see on a Monday morning, but a few things still did
1:57.2	happen that really do matter. So first up we're going to talk about
	...

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