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Equity

Flat is the new up, down is the new flat, dead is the new down

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2 • 372 Ratings

🗓️ 10 March 2023

⏱️ 38 minutes

🧾️ Download transcript

Summary

This week Mary Ann Azevedo, Natasha Mascarenhas and Alex Wilhelm gathered to riff through the week’s biggest startup and venture news: At the top of the show, we riffed about the situation at Silicon Valley Bank - which, of course, kicked off a little more after we wrapped our recording. So, more to come there. But we had other stories to get into: Deals of the Week: Roami (taking on Airbnb), Qualtrics (will it finally find its forever home?), the latest on the VC-AI affair (Upfront Summit recap). ADHD startups are a big thing now: From a browser to gamified help with to-dos, there's a host of startups in the market today looking to help folks get their work done, and life organized. We're big accessibility tech fans here at Equity, so this was right up our alley. How fintech investors are coping in the new venture climate: Mary Ann spoke to seven different fintech investors about the coming year, and where they are putting capital to work. The answer from many of them? B2B payments. It does look rough out there for fintech companies generally, but some VCs are still bullish. Bias, women, and how to brand in venture: We then discussed Natasha and Becca's excellently reported piece tracking how women VCs navigate bias through branding. That's it for this week! Thanks, as always, for listening in. Until next time, you can catch us on Twitter @EquityPod. For episode transcripts and more, head to Equity’s Simplecast website.  Equity drops at 7:00 a.m. PT every Monday, Wednesday and Friday, so subscribe to us on Apple Podcasts, Overcast, Spotifyand all the casts. TechCrunch also has a great show on crypto, a show that interviews founders, one that details how our stories come together 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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0:14.6

Hello and welcome back to Equity a podcast about the business of startups where we unpack the numbers and the new ones behind the headlines. My name is Alex and I am

0:18.6

joined today by senior tech-wish reporter Natasha Moskarinis. How are you? How's life?

0:23.4

I am doing well. I'm doing better than CVB right now. Did you see the news this morning?

0:28.0

Whoa. Spicy. So we put together the script day before, you know, as we always do, kind of the note stock, and then in the meantime, Silicon Valley Bank decided to lose half its value.

0:38.0

I missed that. Oh, Marianne.

0:41.0

What?

0:42.0

Okay, here's the TLDR from memory, so I might be missing a key component here, but Silicon

0:46.8

Valley Bank is going to issue a bunch of stock, do a private placement with General

0:49.9

Atlantic, and also issue some convertible bonds that will convert into shares later on, so

0:54.0

dilution.

0:55.0

They also divested a lot of their investments that were kind of like baked in at lower

0:59.3

interest rates back in the old days, taking a big charge from that, but then they can put all that capital in at a higher interest rate, so their net interest margin will improve.

1:09.0

And the company also said that, look, deposits are down because we expected startups to cut their

1:14.3

burn when their venture capital went down and that hasn't happened so deposits are

1:18.4

kind of flowing out. Investors have taken all of this about as well as a truck to the face and since the company

1:24.8

stock down by about 46% before we hit record.

1:28.0

Oh my God, that's shocking.

1:30.0

Oh, thank you for that explanation.

1:32.1

I don't know how I missed it.

1:33.1

Yeah, more to come, I feel like,

1:35.0

but that's your intro for you, everyone.

1:37.2

Welcome back to Equity and Us Three.

...

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