Equity Monday: The AI race, crypto doldrums, and the future of fake fish

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2 • 372 Ratings

🗓️ 9 October 2023

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This time around we had a bit of a theme. See if you can spot it: Stocks are down around the world in the wake of Hamas' attack in Israel. Crypto is similarly in the red. China is working to bolster its national computing and data infrastructure. You know, the things that make AI function. In other words: the AI race between China and the United States is far from over. This Anthropic paper is a potentially big deal. The more that we understand LLMs, the better we can use them, right? Changes at YC! And from Startup Land: Wanda Fish Technologies just raised $7 million to make fake fish, and Lottie raised $21 million to keep tackling the UK care home market. That's our show for today! We have some really fun interviews coming up, so make sure to tune in on Wednesday! 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 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 unpacked the numbers and the nuance behind the headlines.
0:17.5	This is Alex, good morning and welcome to our Monday show where I get caught up and I catch you up as well. It is October 9th,
0:24.7	2023 and on the show today. We have updates from the worlds of stocks and
0:30.0	crypto, the rising global stakes of the AI race, a possible breakthrough on understanding
0:35.6	LLMs, changes at a well-known startup accelerator, and two funding rounds that I found
0:41.0	fascinating. Let's go. Let's kick off with a look at the world of money and that means stocks.
0:49.0	Share movement was muted in Asia today in Japan and South Korea markets are closed for a holiday. Stocks are also mostly lower in Europe and they are set to fall here in the US.
1:00.4	What's going on? Well, the attack on Israel by Hamas and concern of larger unrest in the
1:06.2	Middle East is weighing on the global stock market and of course we hope that everyone is as safe
1:11.4	as they can be as quickly as they can be.
1:13.4	Elsewhere there are no earnings this week that we care about and there are no new
1:17.2	IPO filings of note either and that means we have ahead of us in financial terms a
1:21.7	pretty clear week.
1:23.0	Much like the stock market, the crypto market is flashing red this morning.
1:27.0	We're talking mostly red ink over the last week.
1:30.0	Bitcoin is off about 2.5% in the last 7 days.
1:33.6	Eith is off a sharper nearly 8% over the same time frame.
1:37.6	And looking at charts, it does seem that many crypto tokens
1:41.0	have had a pretty negative last 24 hours.
1:44.4	What's driving the news? Well recently, Yuga Labs announced layoffs.
1:48.9	Now we don't know how many people the company behind bored apes did cut but it does show that even the biggest
1:55.6	companies in crypto are stuck focusing more and trying to reduce their spend and burn.
	...

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