Equity Monday: Intel backs robotics startup, Twitter loses money, and fintech shows signs of life

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2 • 372 Ratings

🗓️ 17 July 2023

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

Hello, and welcome back to Equity, the podcast about the business of startups, where we unpack the numbers and nuance behind the headlines.Our Monday show covers the latest in tech news from the weekend and what’s making headlines early in the week. Here’s the rundown from this morning! Stocks are largely down around the world following weak Chinese economic data for the second quarter. We’re also heading back into an earnings cycle, so get ready to hear from Tesla and Netflix this week, among other major names. In crypto-land, the XRP/Ripple partial victory drove a short-lived boomlet for many crypto tokens; XRP is the clear winner from last week. Twitter is cash-flow negative, per its CEO, but the company intends to double-down on paying individual tweeters for their high-view activities. While Twitter molts, Threads continues to grow like a weed. Speaking of Meta, the company is in trouble in Norway. On the startup front, Intel invested in Figure, which we think is quite neat, and Thunes is now nearly a unicorn! We will be back on Wednesday and Friday. Talk to you soon! 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, 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 Runch Podcast, where we unpack the numbers and the
0:17.4	nuance behind the headlines.
0:19.2	This is Alex, good morning.
0:20.9	Welcome back to our Monday show where we unpack the weekend behind us and take a look at what is to come in the week ahead.
0:26.4	It is July 17th, 2023 and we have quite the show for you today. On tap, we have the latest on stocks and crypto tokens, Twitter's
0:34.3	Financial Health, Threads is Growth, Norway cracking down on certain digital ads, and
0:38.9	then two pieces of startup news, one from robot company figure and another from the international FinTech
0:44.4	called Thunes. All right, to work.
0:46.5	Let's start with a look at the global stock market.
0:52.3	Shares are lower in Asia today after China's cute 2 GDP results came in under expectations
0:58.2	and youth unemployment in the key economy ticked higher to a new record in June.
1:02.3	Concern about the ability of China's economy to
1:04.4	refind its growth footing and avoid deflation are points of continuing conversation.
1:08.9	Over in Europe, stocks were down and here in the US shares are set to open a little bit lower
1:13.7	but that could change by the time you hear this. It's going to be a busy week for
1:17.8	stocks however because we are once again back in earning season and that means
1:21.5	on Wednesday we're gonna hear from Tesla, Netflix and IBM.
1:25.0	On Thursday it's TSM, SAP and Nokia and that's it. It's a medium week but one that will tell us about
1:32.0	consumer and enterprise demand in a few areas to start
1:34.6	the Q2 tech reporting cycle. Basically, get your boots on for the next couple weeks.
1:39.0	It's going to be a numerical deluge. Turning the page, let's talk about crypto. There was a partial
1:44.3	victory and partial defeat of Ripple and its XRP token last week that helped give
	...

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