How to lose money, SoftBank edition

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2 • 372 Ratings

🗓️ 8 August 2022

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Alex and Grace are back to cover the biggest and most interesting technology, startup and markets news. This morning was a fun mix of stuff that we don't always get to, so strap in for the following: Stocks and cryptos are mostly higher today, meaning that most listeners of the show are now richer than they were Friday. Congratulations! Coinbase earnings on the horizon, but we got word today from Palantir and SoftBank. Palantir's stock is off due to a guidance miss, while SoftBank reported massive losses from its Vision Fund efforts. Also, it turns out that SoftBank is of the perspective that startup founders are not yet willing to accept valuation cuts to bring the value of their startups in line with market conditions. That's not good. And there was a huge PE deal today, Avalara being taken over by Vista Equity Partners in a $8.4 billion deal. What else? Self-driving cars from Baidu are now taking passengers in China, Lyft is building a media business, and India is cutting back on buying Chinese smartphones. We are back Wednesday! Chat soon! Equity drops every Monday at 7 a.m. PDT and Wednesday and Friday at 6 a.m. PDT, so subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. 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,
0:13.5	where we unpack the numbers and the nuance behind the headlines.
0:16.7	This is Alex, it is August 8, 2022,
0:20.0	and that means amazingly,
0:21.6	we are actually almost halfway through Q3.
0:24.3	I do not want to believe that time is passing that quickly so let's stop talking about that
0:28.0	and do some news.
0:29.2	Starting off as we always do with a look at the global world of money.
0:35.6	Over in Asia stocks are mixed if mostly up.
0:38.8	Over in Europe shares are higher and stocks are set to rise this morning in the US when markets open.
0:45.0	And as a small note, oil has fallen more than I had noticed down now in the high $80 per barrel,
0:51.0	so that's good.
0:52.0	Turning to the world of blockchain, major cryptos are... $80 per barrel, so that's good.
0:52.5	Turning to the world of blockchain, major cryptos are making moves this morning.
0:56.7	Bitcoin is up nearly 5% in the last 24 hours to around $24,000 per coin,
1:02.3	and Eath is up even more nearly 6% in the last day to nearly $1,800 per token.
1:08.0	However, the Eath pump is not impacting NFT volumes thus far, at least as far as we can see it.
1:14.5	Earnings this week.
1:15.4	Coinbase is tomorrow.
1:16.7	That's going to be a big one.
1:17.6	I am super excited to see what they have in store for us.
1:20.6	We're also going to hear from Unity and Robblocks this week. So if you care about
	...

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