Equity Monday: People like Threads

Equity

TechCrunch

News, Business, Entrepreneurship, Business News, Technology

4.2 • 372 Ratings

🗓️ 10 July 2023

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

Here’s the rundown from this morning: The global stock market is looking mixed, with the leading piece of financial news dealing with inflation data in the Chinese market. On the crypto side of things, there are no massive price movements in key tokens to examine. That said, the NFT market has been turbulent in the last few days due to incentive changes as a key marketplace. An FYI: We are back in earnings season, but there’s little to report on the tech side of things this week. Expect the pace to pick up next week. Ant has a new valuation thanks to a choice to offer share buybacks to existing backers. It’s still worth nearly $80 billion, just a lot less than it might have been valued at back in its 2020 IPO that got scuttled. People like Threads: The new social service from Meta has reached the 100 million sign-up mark rapidly. More on threads here on the TC Podcast. In Startup-Land: FrontRow is shutting down in another blow to Indian edtech, while Propel raised $2.7 million to connect African tech talent to global employers. And that is our show! We are back Wednesday, and Friday this week! 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 Ranch Podcast, where we unpacked the numbers and the nuance behind the headlines.
0:17.0	This is July 10th, 2023, and this is our Monday episode where we unpacked the weekend and take a look at the week ahead.
0:23.4	Hi everybody my name is Alex and I am back after a week off. It feels amazing to be back let me tell you.
0:29.4	Taking a week off though when you don't have child care is not really a week off.
0:33.2	Anyways, it was hard to stay away from the new cycle because there was so much going on.
0:37.2	And I want to start with a quick little programming note.
0:39.6	So last week I said that we'd run the Tech Runch podcast
0:42.8	in the Equity Feet on Friday,
0:44.8	but we wound up putting up an interview
0:46.4	with the co-founder and CEO of Mercury instead.
0:49.0	So make sure you check that out.
0:50.6	Marianne absolutely crushed it,
0:51.9	and it's really high on my own list of things to get to this morning.
0:54.8	All right, so what is on deck today on the podcast? Well, we're going to take a quick look at the
0:59.5	global stock market and the latest from crypto. Then we're going to talk about Ant's new valuation,
1:04.5	the latest growth metrics from threads,
1:06.2	and then two startup stories,
1:07.7	one about Ed Tech, one about a talented marketplace.
1:10.4	It's going to be a great show.
1:11.6	Let's get into it. Let's start as we always do with a look at the global stock market.
1:18.0	Spending the globe and starting over in Asia stocks are mixed today.
1:22.0	The leading narrative is that Chinese inflation
	...

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