Good morning, assets are selling off

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2 • 372 Ratings

🗓️ 21 November 2022

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

Hello, and welcome back to Equity, the podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. Note: Equity will be back on Wednesday, and Friday in some capacity. But keep in mind that this is a holiday week in the United States, so things are going to be a little bit slower than usual. Here’s what we got into on our Monday episode, a weekly kickstart to your week! Stocks are largely down around the world, and crypto prices continue to deflate. Watching both these asset classes lose value in tandem feels like the worst horse-race in history. No matter what you hold, it's a bad Monday. Twitter CEO Elon Musk decided to bring former American president Donald Trump back to Twitter. Ironically, the former president is so far declining the option and wants to stick to his own social network, Truth Social. FTX owes $3.1 billion to its 50 largest creditors. In more positive news, Wove just raised a nearly $3.85 million Seed round, and SponsorUnited's big Series A proves that nine-figure early-stage valuations are not dead! In closing, Natasha will host the Monday show next week as we get ready for my parental leave! Equity drops at 7 a.m. PT every Monday and Wednesday, and at 6 a.m. PT on Fridays, 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, 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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0:00.0	Hello and welcome back to Equity, the Tech Ranch Podcast, where we unpacked the numbers and the nuance behind the headlines.
0:16.8	It is November 21st, 2022 and I am freezing cold.
0:21.0	Why is that? Well, it's Thanksgiving week and that means here in the northeast of the United States, it's very cold.
0:26.6	And when it gets cold things slow down, which is what we're expecting from the news this week. We shall see, sometimes holiday weeks do have a surprise or to end them,
0:34.9	but looking around the news this morning,
0:37.5	it does seem like we really are now.
0:39.9	Finally, at last, deep into Q4.
0:42.8	Still, there's stuff to talk about, sit back, relax,
0:45.4	we got you.
0:46.0	Let's talk about money,
0:50.2	and we're gonna kick off with the stock market.
0:52.3	Spinning the globe, shares are largely down today in Asia,
0:55.6	they are mostly down in Europe, and they are set to fall in the United States to kick off the week.
1:01.0	Now note that the stock market will be closed in the US on
1:04.4	Thursday for the Thanksgiving holiday and then we'll close early on Friday. So
1:09.2	it's a short week here in the United States so expect things to be increasingly quiet from here on out at least in terms of the stock market
1:17.5	Our only other note from the world of equities is that Zoom will drop earnings today after the bell.
1:23.0	The company is no longer really the ultimate bellwether that it once was,
1:26.4	but it does remain a large and important tech company.
1:30.0	We will be tuned in.
1:31.0	Putting aside our Bloomberg terminals and picking up our
1:34.4	weiji boards, let's talk about crypto, which I can summarize today in a very simple
	...

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