Equity Monday: Welcome to crypto game day

Equity

TechCrunch

News, Business, Entrepreneurship, Business News, Technology

4.2 • 372 Ratings

🗓️ 14 February 2022

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

Every Monday, Grace and Alex scour the news, and record notes on what’s going on to kick off the week. Today we had were reeling in the wake of the American football championship, and the fact that is once again snowing where Alex lives. Alas. But snow or not, the news was fascinating: We chewed on the Just Eat delisting situation, which appears to be a cost-cutting move. Delivery Hero is also struggling, and the value of Deliveroo is in the toilet. So it's not clear that European food delivery will wind up being the business that many expected it to be. What about in America? We get DoorDash earnings in due time, so we'll learn more but the news doesn't augur well. And shares of Splunk are set to rise sharply this morning in the wake of late Friday news that Cisco is interested in buying Splunk for around $20 billion. Normally such a deal wouldn't excite us much as Splunk hasn't been a startup for a long time, but the deal possibility does say that anti-trust concerns aren't stopping some major firms from pursuing big deals. From the startup world, two rounds: $20 million for Gaia, which Alex thinks has a brilliant idea, and TripleDot, which raised $116 million for its causal games. Don't sleep on the gaming market. It's just flat huge. And to close we yammered about crypto ads in the football game, which were expensive, but appear to be having a nice effect for the companies in question. More 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	Hello and welcome back to Equity, the Tech Runges, where we unpack the numbers and the
0:14.4	nuance behind the headlines.
0:16.1	My name is Alex and it is February 14, 2022, which means it is Valentine's Day.
0:21.3	So happy Valentine's Day if you
0:22.5	celebrate and nothing to you if you don't but either way don't worry it is our
0:26.6	Monday morning show which means it is time for markets it is time for big tech
0:29.8	it is time for startup news. Let's get into it. And we're going to start as we always do with a look around the world's markets.
0:38.8	Kicking off over in Asia, stocks are down.
0:41.2	According to kind of usual market commentary the reasons are Ukraine the
0:44.7	crisis there and oil the price thereof and how high it is over in the EU stocks are
0:49.2	also down and quite a lot really and the reasons are well the same Ukraine and oil however here in the
0:55.4	US stocks are flat in early morning pre-market trading but I'll just say that does
1:00.1	tend to change by the time this comes out so please take a look in case things have shifted around, but it was pretty stable this morning.
1:06.0	On the other hand, in the worlds of crypto, well, despite a lot of advertising in yesterday's Super Bowl,
1:11.0	most crypto prices are pretty flat in the last 24 hours. However, if you are a
1:14.9	crypto trading exchange, you're probably having a good day.
1:17.8	FTX, coin-based, and E-Toro all shot higher on the world's app stores after they drop
1:22.0	Super Bowl advertisements.
1:23.2	That's according to the block. I'm of course curious to see if those downloads convert into use
1:27.5	and therefore trading revenues, but we won't know that for quite some time. However, I will say,
1:31.6	coin-based earnings for Q4 do drop on February 24th so that's pretty
1:35.6	close we'll get a look at what happened in the consumer crypto market at least through the end of
	...

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