Equity Monday: The beginning of the end of ‘996’

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2 • 372 Ratings

🗓️ 1 November 2021

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today we had a goodly bag of things to dig into, including: The FT finds that major social platforms are taking a bath thanks to Apple’s new privacy rules. But is that such a bad thing? The Chinese labor standard of ‘996’ is losing its dominance in its domestic market. The Dell-VMware spinoff has finally happened. At last. Digital Currency Group raises $700 million, Mosaic Building Group raises $44 million, and When I Work locked down $200 million of its own. Looking ahead, we have AllBirds and NerdWallet IPOs this week! Sorry that the show was late! Chat soon! 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 or very nearly good afternoon here on the East Coast. This is Equity Monday. I am Alex. It is
0:16.4	November 1st of 2021 and I'm sorry the show is late today. That's on me. I had a couple of appointments this morning, but this
0:24.0	should be the very last time that a Monday show comes to you this late, so we're
0:27.8	sorry, but also we're moving on. All right, looking around the world of money.
0:32.1	Let's talk about the stock market.
0:33.6	European stocks were up nicely to start the month.
0:35.9	Asian stocks were mixed and American shares were also mixed, but tech stocks are up a little bit.
0:40.7	Good news there.
0:41.6	Sass and Cloud, looking at that one particular niche in the
0:44.3	larger technology world are up a little bit back near all time records and if you're a
0:49.2	crypto fan good news cryptos on the major side are up a hair morning, but nothing really to write home about.
0:54.8	And now let's talk about some big news.
0:59.7	Kicking off with some big technology news this morning. The Financial Times finds that
1:04.0	major social platforms, Snapchat, Facebook, Twitter, and YouTube, owned by Snap
1:08.7	Twitter, Facebook, and Alphabet, respectively, have lost around $10 billion in revenue thanks to Apple's
1:14.8	app tracking transparency or ATT policy. Now what is ATT? Well it
1:20.0	essentially forces apps to get permission to track and use user data.
1:23.8	And here's the thing, doesn't this feel like
1:26.0	it's the way it should have been from the start?
1:28.0	Like why is this only happening now?
1:30.0	So when I think about this $10 billion number of, quote,
1:32.6	lost revenue, it's not really lost per se,
	...

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