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Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2 • 372 Ratings

🗓️ 2 May 2022

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

Hello and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. Every Monday, Grace and Alex scour the news and record notes on what’s going on to kick off the week. Thankfully we did not start this episode by talking about Elon Musk and Twitter! You are welcome! Instead we started with bleak Chinese economic news, that segued into falling venture capital totals for a key startup sector in that country. It turns out that a massive regulatory crackdown will have in-market impacts! From there it was time to chat Yuga Labs and its recent minting chaos. Bloomberg has more. Then it was time to chat neobanks, in particular the recent rounds from Open ($50 million) and Cogni ($23 million). This is not a live show week, so Equity will simply come out on Friday as usual. That said, we do have a Twitter space scheduled for today with our own Kirsten Korosec, so follow us on Twitter and we will see you there. 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 Runge Podcast,
0:09.0	where we unpack the numbers and the nuance behind the headlines.
0:15.8	This is Alex. It is Monday, May 2nd, 2022, which means that we are deep into the second quarter.
0:21.6	It's still earning season, more on that in a minute and there is quite a lot going on. Let's go.
0:28.7	All right, starting off with markets as always. The big news this morning is that Chinese manufacturing
0:34.2	industries have contracted more than expected in April this was of course the
0:37.8	second consecutive month of contraction in that part of the Chinese
0:41.1	economy recall that the Chinese government is making noise
0:44.0	about pulling back on tech regulation
0:45.9	in response to its domestic tech companies
0:47.8	executing wide and painful layoffs in recent months.
0:50.6	So seeing the lower tech portion of the country's economy also contract is about
0:54.4	as a Tofurky at a NASCAR event. More on China in a moment. Stocks are mostly lower today in Europe and just about
1:01.9	flat in the US during pre-market
1:04.2	trading. Major crypto tokens are flat in the last 24 hours. The biggest names
1:08.4	out there, you know, your bitcoins, your etheorems, not much action even in the
1:11.5	last week. Some smaller projects are taking on water in recent trading
1:15.0	but really it's nothing to write home about.
1:17.0	Turning to the world of public companies,
1:19.0	we are going to see earnings this week from Airbnb and Lift
1:22.0	and Uber and Match and
1:24.0	Twilio and DoorDash and Shopify and Block aka Square.
	...

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