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Equity

Equity Monday: PayPal punts on Pinterest as Facebook's hell month continues

Equity

TechCrunch

News, Business, Entrepreneurship, Business News, Technology

4.2372 Ratings

🗓️ 25 October 2021

⏱️ 9 minutes

🧾️ Download transcript

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. Taking a look around the world, stocks were largely higher in Asia and Europe and are looking somewhat mixed in the United States. There are a host of technology earnings coming this week, mind. Facebook is taking all sorts of incoming fire from media reporting on a trove of documents that a whistleblower leaked. The company is not having a good month, let along quarter from a PR perspective. It reports earnings later today. Here's the NYTimes piece we noted, the Bloomberg article, the CNN piece, and the Verge entry. The PayPal-Pinterest deals is done for now. PayPal said so this morning. Its shares are up, while Pinterest shares are sharply lower. And from startup-land: Routine is a new app that looks slick, Billie raised $100 million, Tier raised a huge bloc of cash, and Groww just tripled its valuation. It's going to be a busy one, so strap in and get hype because it is earnings week. 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.

0:13.0

Welcome to Equity Monday.

0:14.0

This is Alex.

0:15.0

It is October 25th of the fine year 2021.

0:18.0

Of course, we are here for your Monday morning.

0:20.0

Wake up.

0:21.0

We're here to get off on the right foot both you and I so let's talk

0:23.9

about the markets a little bit riff on the biggest technology news of which there is

0:27.6

quite a lot this morning and of course check up on startup land so hello from the

0:32.1

cold wet and rainy east coast of America. It is

0:35.2

dismal today. It is wet. It is cold. It is sad. It is miserable and it is a

0:39.2

reminder that summer is behind us. Which reminds me a little bit of Facebook because that

0:43.9

company is also enjoying a kind of dismal down cycle and probably Mrs. Brighter and sunny

0:48.2

your times. So in case you're behind, a bunch of Facebook docs were released by a whistleblower from the company

0:54.4

who actually I believe testifies in the UK today and look we can't spend the whole

0:58.0

show on what's kind of come out in the last couple of days so I prepared a short

1:01.5

digest if you will of headlines from around the web that I was reading this morning.

1:05.0

So here is your Facebook News round up.

1:08.0

The New York Times reports that Facebook has had a struggle to control misinformation and

1:11.6

political manipulation in India, a key market for the company.

1:14.6

Of course, WhatsApp is very popular there and other Facebook products.

1:17.9

CNN is the headline that I just can't improve on, which reads,

...

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