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Equity

Equity Monday: Tensions go up, stocks go down

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2372 Ratings

🗓️ 22 February 2022

⏱️ 14 minutes

🧾️ Download transcript

Summary

Every Monday, or Tuesday, Grace and Alex scour the news and record notes on what’s going on to kick off the week. We are a day late here thanks to the American holiday, which means that it's going to be a short week -- here at least. But that doesn't mean that things are slow. In fact, the opposite: Russian military aggression in Ukraine is hammering the global stock market, although not everywhere it's worth noting. Crypto prices are also flat to down, generally. Most crypto tokens are off sharply in the last week. SoFi is buying Technisys for $1.1 billion. The deal isn't receiving rave reviews from Wall Street, but for the consumer fintech the concept of bringing its own infra in-house does make pretty good sense. TRUTH Social launched, and struggled to handle early demand. Which is funny given how long it took to build. TechCrunch has more here. FTX.us wants to bring crypto to a game near you. The Verge has the key quote here, I will not, but it failed to lift my general skepticism. And we have so much more here, regarding startups. It's going to be a busy, hectic week. And one full of stress, given the state of the world. So, no rest! More coffee! We can do this! 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,

0:12.5

where we unpack the numbers and the nuance behind the headlines.

0:15.8

My name is Alex, I'm a reporter here at Tech Ranch

0:17.8

and part of the Equity team, and I am proud to report to it is February 22nd, 2022.

0:23.4

Yes, not the 21st.

0:24.8

We are here on a Tuesday, not on a Monday,

0:27.1

because yesterday was a holiday in the United States,

0:29.6

President's Day, if you didn't know.

0:31.0

Now, what is President's Day?

0:32.4

No one knows, but do love a day off

0:34.4

Anyways it's a busy morning. We got a lot to do. Let's get into it

0:38.2

As always we're gonna start with a look at the markets which really means a look at the

0:45.3

geopolitics.

0:46.3

I don't know if you're watching the news over the weekend.

0:48.2

I was trying to turn off, but then Russia kind of invaded Ukraine so then I had to pay a lot more attention.

0:53.6

Anyways, I bring all that up because Russian military aggression in Ukraine is about as

0:57.8

popular as a party foul, which is to say that Asian stocks had a really bad day.

1:02.4

American stocks are set to fall at the open,

1:04.9

declining about a half point in the tech world. Cloud stocks are off about one and a half

1:08.8

points. Surprisingly, and I don't know why this is the case it appears that European stocks are doing fine

1:13.5

They're up a little bit which is a little bit weird, but what can you do?

1:17.1

Essentially the world's getting harder to predict which means that we don't know what's going on

...

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