Is the party over?

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2 • 372 Ratings

🗓️ 24 January 2022

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

If you own stuff, I am sorry to report that you are probably poorer today than you were on Friday, and even less wealthy than you were the Friday before. Things are selling off and we had to talk about it: Stocks are down, and cryptos are getting utterly hammered. It's a bad time to own equities, but worse if you are invested in digital assets. Bitcoin, ether, and Solana are taking body-blows while the stock market wilts. I guess this means that all our 401k contributions will be cheaper in February? Small wins, but still. Swiggy raised a huge round at a simply enormous price, which is good for the company but has us asking questions. OfficeSpace raised $150 million, which caught our eye, and the recent Spectrum Labs appears to make good sense. And to close out we asked is the party over? This MG Siegler piece was in our brain as we chewed over the situation. The dissonance between the public and private markets feels peak, and we aren't sure how quickly their diverging velocities can keep up the tension. Regardless of how the selloff is impacting you, we hope that you have a lovely week and stay warm. Hugs! 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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0:15.6	Hello and welcome back to Equity, the Tech Ranch Podcast where we unpack the numbers and the nuance behind the headlines. It's all about startups, venture capital, and the greater world of business.
0:18.9	My name is Alex and it is Monday, January 24th, 2022, which means that we have burned through nearly an entire month
0:26.0	of Q1.
0:27.0	I am kind of in awe of how quickly time flies.
0:29.7	Anyways, this morning we're talking about the market massacre and a lot of startup news and I mean a lot of startup news but bad news first then good news I think so let's talk some chaos
0:47.2	I want to say good morning and all of that, but really it isn't if you own tradable assets. Looking around the world, European stocks are off sharply
0:51.2	today. Asian stocks are mixed but exchanges that are up are actually up a little,
0:55.8	while those that are down are down a lot.
0:58.3	In pre-market trading, the American stock market is set to fall,
1:01.2	with tech stocks leading the way south.
1:03.4	So it kind of feels like a repeat of last week when the news is bad and worse if you care
1:07.5	about technology companies.
1:09.2	But really this morning guys, it's crypto that is taking the most stick.
1:12.6	After a lengthy period of declines, the crypto market is still falling apart with
1:16.5	Bitcoin, Ether, and other major tokens falling more in the last few hours after sharp declines
1:21.8	in the last seven days. and you know it's coming.
1:24.1	Yep we're gonna talk some numbers.
1:25.9	Bitcoin currently about 33,300 dollars per coin off roughly 7% in the last day and
1:31.7	just about 22% in the last day and just about 22% in the last week.
1:34.0	Eath, well it's off nearly 12% in the last day and 32.5% in the last seven days.
1:40.0	There's more carnage. I'll just pick out a couple more here.
1:42.0	Cardano, I still don't know what that one does.
	...

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