Equity Monday: Women's employment drops, as Delta's drama continues

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2 • 372 Ratings

🗓️ 7 September 2021

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

This is Equity Monday, our weekly kickoff to catch up on weekend news and prep for the days ahead. We're here on Tuesday this week since us folks in the United States had off for labor day. You can follow the show on Twitter here, and while you're at it, throw me a follow too. Jobs report: Over the weekend, the US government posted the Jobs Report. It wasn't ideal, with a sharp drop in percentage of women rejoining the workforce. I give you the startup angle, and talk about a somewhat poetic unicorn. Instacart, meet Instagram: WSJ reports that new Instacart CEO Fidji Simo is expanding the grocery delivery store's consumer-product advertising business, with a goal of hitting $1 billion in revenue next year. I riff on why this makes sense and what challenges the business make come up against. Behemoths, beware: The largest Series A within Africa just closed, and it's not even close. Wave is taking on telecom-led mobile money, now with four-big name backers. It's not the only startup trying to take on a behemoth. I also gave a shout out to Glass, which wants to take on Instagram as a new go-to destination for photographers to share their content. And that's a wrap. I have a fun edtech piece coming out on Extra Crunch this week, so keep your eyes out for it. 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	Hey, it is September 7, 2021, and you are listening to Equity, Tech Crunch's Venture Capital
0:16.3	and Start Up focused podcast, where we unpack the numbers behind the headlines.
0:21.6	This is Natasha, and I hope you had a lovely long weekend if you had
0:26.0	one and a wonderful start for those who celebrate to Rashashana. That said
0:30.4	there's a lot of work and news to catch up on because news isn't wait for anyone,
0:35.3	so let's jump right into it.
0:37.3	To start, global stock markets are mixed.
0:39.5	Asia markets are on the rise, Europe markets are and the U.S. stocks were somewhat flat.
0:45.0	Value of cryptocurrencies kind of looks the same.
0:48.0	We saw some tokens and cryptocurrencies off a few points this morning,
0:51.0	but not enough to start an entire Twitter debate. The mixed
0:55.6	feelings could be due to a lot of things. First traders are back from vacation and
0:59.2	analysts always have a ton of thoughts. Some people think it's inflation, some said it's an upcoming European
1:05.3	Central Bank meeting, but what I want to focus on is a less than ideal job support.
1:10.4	Ready? Let's go.
1:15.0	I'll start with the good news. We learned that in August overall unemployment declined to 5.2% from July's overall
1:22.0	employment rate of 5.4%. It's 0.2%, but I will take it because that
1:27.4	represents a lot of people that now have paychecks coming in to their mailbox.
1:31.6	That's kind of where the good news stops though. This
1:33.9	report we learned that the US economy added only 235,000 drops in August, which
1:40.3	was a sharp drop from analyst expectations, but even looking at July's total, which was 943,000 jobs.
1:48.4	To make matters worse, Fortune actually digged a little deeper and looked at the National Women's Law Center,
	...

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