It’s not a rug pull if it’s an accident

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2 • 372 Ratings

🗓️ 11 November 2022

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Hello and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. We thought that last week was a lot. It was, but this week was somehow more. More chaotic, rapid-fire change at a number of massive tech companies kept us on our toes. So, while our beloved co-host Natasha was out, we couldn't do the recording down a set of hands, so we brought Becca aboard with Mary Ann and Alex. The list of news was so long that we were cutting entire sections up until we hit record, and even still we went over time. If you like longer episodes, this one is for you. Deals of the Week: What's going on with the former Peloton CEO's new rug startup? And how is Tellus going to offer much better consumer savings rates? And, finally, how wrong can Alex get the Harmonic business model until he figures it out live on the show? Mega-layoffs: From there, we had to sit down and discuss the massive Meta layoffs. Our read is that the company is doing right by the folks it is cutting, which is not as much as we can say about some other companies in the world also undergoing massive staffing cuts. Naturally, this brought up Twitter to a degree, the smaller social network being the Main Character in tech news up until, well: WTF FTX? Ah, FTX. Last week it was worth $32 billion and its founder was arguably the face of crypto around the world. And now Sequoia has pulled its on-site hagiography, SBF is a pariah, and FTX may be going to zero. There's going to be a mini-series about this, isn't there? We are back Monday! Have a lovely weekend! 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, 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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0:00.0	Hello and welcome back to Equity, a podcast all about the business of startups where we
0:14.6	unpack the numbers and the new ones behind the headlines.
0:17.3	It is Friday, November 11th. This is Alex and I'm joined today by Marianne Azaveto, one of my oldest friends.
0:23.6	Marianne, how are you?
0:24.6	Doing great, Alex, how are you?
0:26.6	It's Shorts and T-shirt weather once again
0:28.7	here in mid-November on the East Coast.
0:30.5	So I'm excited and also terrified for the planet but the good
0:34.0	news is I am not alone on the East Coast enjoying the weather today we have along with
0:37.5	us Mary and we have Becca Scutec from the TC Plus team.
0:40.1	Becca welcome back to the show. Thanks for having me.
0:43.0	Natasha is off today and so Becca has very kindly stepped in to fill the void and it's great to have all three of us because there has been so much going on.
0:51.0	This week has felt like a year, I think. I'm exhausted. I'm curious just up top, how are you
0:56.7	guys holding up? Yeah, same, like very, very long week, just taking in so much.
1:02.2	Yeah, how we're holding up.
1:04.0	Not well.
1:05.0	Not well.
1:06.0	I think having an election of great import in the nation at the same time when
1:10.0	FTX decided to melt down and
1:12.0	Elon's doing his thing and the socks are going
1:14.3	blah blah blah it's too much I think we should all get a refund on this week anyways we do
1:18.8	have a great show for you today we are going to talk about deals from Ernesta
	...

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